- Alaska Statutes.
- Title 34. Property
- Chapter 8. Common Interest Ownership
- Section 290. Merger or Consolidation of Common Interest Communities.
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AS 34.08.290. Merger or Consolidation of Common Interest Communities.
- (a) Any two or more common interest communities of the same form of ownership, by agreement of the unit owners under (b)
of this section, may be merged or consolidated into a single common interest community. On the merger or consolidation,
unless the agreement otherwise provides, the resulting common interest community is the legal successor, for all
purposes, of the preexisting common interest communities, and the operations and activities of each association of the
preexisting common interest communities are merged or consolidated into a single association that holds all powers,
rights, obligations, assets, and liabilities of all preexisting associations.
- (b) An agreement of two or more common interest communities to merge or consolidate under (a) of this section must be
evidenced by an agreement prepared, executed, recorded, and certified by the president of the association of each of
the preexisting common interest communities following approval by owners of units comprising the percentage of votes in
each common interest community required to terminate the common interest community. The agreement must be recorded in
each recording district in which a portion of the common interest community is located and is not effective until
- (c) Each merger or consolidation agreement must provide for the reallocation of the allocated interests in the new
association among the units of the resultant common interest community either (1) by stating the reallocations or the
formulas upon which they are based or (2) by stating the percentage of overall allocated interests of the new common
interest community that are allocated to all of the units comprising each of the preexisting common interest
communities, and providing that the portion of the percentages allocated to each unit formerly comprising a part of the
preexisting common interest community must be equal to the percentages of allocated interests allocated to the unit by
the declaration of the preexisting common interest community.
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