§ 34-41-3.15. Direct initiative by owners. (a) The owners may amend the project instrument or any unrecorded document governing the project, or approve or disapprove any proposed expenditure, in the manner provided by this section in addition to any manner permitted by other law or by the instrument or document.

(b) Any owner may deliver to the managing entity a petition containing the language of any proposed amendment and signed by owners of at least one time share or other state or interest in each of a number of units to which at least thirty-three and one-third percent (33 1/3%) of the votes are allocated, or any smaller percentage specified by the document to be amended. The owner delivering the petition may attach to it a letter of not more than two (2) pages to be mailed with the ballots. Within ten (10) days after receiving the petition, the managing entity shall mail to each owner a ballot setting forth the language of the petition and affording an opportunity to indicate a preference between approval and disapproval of the proposal, together with a copy of any letter of not more than two (2) pages attached by the owner who delivered the petition. The ballot may also be accompanied by a letter of not more than two (2) pages from the managing entity recommending approval or disapproval of the proposal.

(c) On the date specified pursuant to § 34-41-3.14(c)(2), the managing entity shall examine the ballots that have been returned and calculate the vote accordingly. A signature on the petition must be treated for the purpose of § 34-41-3.14(f) as a ballot from the signer indicating approval of the proposed amendment. A simple majority of the votes counted suffices for the adoption of the proposal unless other law or the document to be amended specifies a larger majority or, in the case of a proposed expenditure, the project instruments specify a larger majority not exceeding sixty-six and two-thirds percent (66 2/3%). No document may specify more than a simple majority for any proposal the managing entity could have effected unilaterally. No proposal may be adopted by an initiative in which the ballots favoring the proposal represent less than ten percent (10%) of the votes allocated to all owners.

(d) A proposal adopted pursuant to this section may not be repealed or modified within three (3) years except by another initiative pursuant to this section. Thereafter, the managing entity may not repeal or modify the result without the approval of the owners in a referendum. If the project instrument permits the managing entity to initiate a referendum for that purpose, no referendum may be initiated for that purpose more often than once every three (3) years.

History of Section. (P.L. 1984, ch. 141, § 2.)