Housing cooperatives organization and operation modifications

Summary

The bill revises Chapter 308C to clarify how housing cooperatives are organized and operated. It adds a homestead‑exemption for membership interests, sets out how taxes and assessments are shared among members, and updates key terms such as “articles,” “business entity,” and “common elements.” It also introduces provisions on member violations, required disclosures, cancellation rights, warranties, insurance and upkeep requirements.

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