If the instrument provides that any member of the board of directors or any officer of the association must be a lot owner, then, notwithstanding Code Section 44-3-221, the term "lot owner" in such context shall, unless the instrument otherwise provides, be deemed to include, without limitation, any shareholder, director, officer, partner in, or trustee of any person who is, either alone or in conjunction with any other person or persons, a lot owner. Any individual who would not be eligible to serve as a member of the board of directors or officer were he or she not a shareholder, director, officer, partner in, or trustee of such a person shall be deemed to have disqualified himself or herself from continuing in office if he or she ceases to have any such affiliation with that person.
Section: Previous 44-3-222 44-3-223 44-3-224 44-3-225 44-3-226 44-3-227 44-3-228 44-3-229 44-3-230 44-3-231 44-3-232 44-3-233 44-3-234 44-3-235 NextLast modified: October 14, 2016