§ 2-124.
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/vt/2-124-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2-124. Termination following catastrophe
If substantially all the units in a common interest community have been destroyed or are uninhabitable and the available methods for giving notice under section 3-121 of this title of a meeting of unit owners to consider termination under section 2-118 of this title will not likely result in receipt of the notice, the executive board or any other interested person may commence an action in superior court seeking to terminate the common interest community. During the pendency of the action, the court may issue whatever orders it considers appropriate, including appointment of a receiver.
After a hearing, the court may terminate the common interest community or reduce its size and may issue any other order the court considers to be in the best interests of the unit owners and persons holding an interest in the common interest community. (Added 2009, No. 155 (Adj. Sess.), § 23, eff. Jan. 1, 2012.)