SB550,7,223 703.09 (1b) Declarant rights after period of declarant control;
24prohibition. A condominium declaration may not provide a declarant with a right

1in the association of unit owners after the period of declarant control ends under s.
2703.15 (2) (c) if the right is not granted to unit owners who are not the declarant.

SB550,7,44 703.09 (1c) (title) Consent of property owners and mortgagees; declaration.

SB550,7,186 703.09 (2) Amendment. Except as provided in sub. (4) and ss. 703.093, 703.13
7(6) (c), (cm), and (d), (7) (b) and (bm), and (8) (b), (bm), and (bp), and 703.26, a
8condominium declaration may be amended with the written consent of at least
9two-thirds of the aggregate of the votes established under sub. (1) (f) or a greater
10percentage if provided in the declaration. An amendment becomes effective when
11it is recorded in the same manner as the declaration. The document submitting the
12amendment for recording shall state that the required consents and approvals for the
13amendment were received. Except as provided in sub. (2m), a unit owner's written
14consent is not effective unless it is approved in writing by the first mortgagee of the
15unit, or the holder of an equivalent security interest, if any. Approval from the first
16mortgage lender or equivalent security interest holder, or the person servicing the
17first mortgage loan or its equivalent on a unit, constitutes approval of the first
18mortgagee or equivalent security interest holder under this subsection.

SB550,7,2020 703.09 (2m) (title) Consent of unit owners and mortgagees; amendments.

SB550,7,2222 703.09 (3) (title) Compensation for reduction in value; amendments.

SB550,8,424 703.09 (4) Assignment of declarant's interest. A declarant may assign his or
25her rights and obligations as a declarant under this chapter by recording an

1amendment to the declaration that includes the assignment and an acceptance of the
2assignment that is signed by the assignee and acknowledged. A declarant may not
3assign under this subsection less than all of his or her rights and obligations as a
4declarant under this chapter.

SB550,8,126 703.093 (1) As an alternative to s. 703.09 (2), a condominium declaration may
7be amended under this section if at least two-thirds of the aggregate of the votes
8established under s. 703.09 (1) (f), or a greater percentage if provided in the
9declaration, consent to the amendment in writing and those consents are approved
10by the mortgagees or holders of equivalent security interests in the units. An
11amendment becomes effective when it is recorded in the same manner as the
12declaration.

SB550,8,1814 703.093 (7) Any person acquiring a mortgage or equivalent security interest
15on a unit after the affidavit is recorded under sub. (2) may notify the association in
16writing of the mortgage or equivalent security interest lien, identifying the unit on
17which it holds a lien, and signify its approval of or objection to the proposed
18amendment to the declaration.

SB550,8,2421 703.095 (1) Modifications. A recorded condominium instrument, amendment,
22or addendum may only be modified only by recording an amendment, addendum, or
23correction instrument, or by removal from the provisions of this chapter under s.
24703.28 (1).

SB550,9,3

1(2) Requirements. The register of deeds may not record an amendment,
2addendum, or correction instrument only if it does not refer the document complies
3with s. 703.065, if applicable, and satisfies all of the following criteria:

SB550,9,8 4(a) It refers to the condominium instrument, amendment, or addendum being
5modified or corrected, including the document number assigned to the document
6being modified, and may not record an amendment or addendum unless it if volume
7and page numbers are assigned to the document being modified or corrected, the
8volume and page where the document is recorded.

SB550,9,11 9(b) It is numbered consecutively or states that it is an amendment and
10restatement of the condominium instrument being modified or corrected , bears the
11name of the condominium as it appears in the declaration, and identifies .

SB550,9,12 12(c) Identifies all units in the condominium.

SB550,9,1514 703.095 (2) (d) Clearly states the changes being made to the condominium
15instrument, amendment, or addendum it is modifying or correcting.

SB550,9,1917 703.095 (3) Correction instrument. A correction instrument may be used only
18to correct a scrivener error on a condominium plat, including erroneous distances,
19angles, directions, bearings, chords, building or unit numbers, and street names.

SB550,9,2521 703.10 (5) Amendment. The bylaws may be amended by the affirmative vote
22of unit owners having 67 percent or more of the votes. Each particular set forth in
23sub. (2) shall be expressed in the bylaws as amended. Following an amendment to
24the bylaws, the association shall promptly deliver to each unit owner a copy of the
25approved amendment.