§ 55-440. Construction and validity of declaration and bylaws
A. All provisions of the declaration and bylaws are severable.
B. The rule against perpetuities may not be applied to defeat any provision of the declaration, bylaws or rules and regulations adopted pursuant to subdivision A 1 of § 55-459.
C. In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with this chapter.
D. Title to a cooperative interest is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with this chapter. Whether a substantial failure impairs marketability is not affected by this chapter.
(1982, c. 277.)
Sections: Previous 55-433 55-434 55-435 55-436 55-437 55-438 55-439 55-440 55-441 55-442 55-443 55-444 55-445 55-446 55-447 NextLast modified: April 16, 2009