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UCIOA Update

Feb 25, 2015 | Archive, Blog, Law Updates, Text Only Article | 0 comments

SB 5263 Update – 2.24.15

The WSCAI LAC actively participated in the political process surrounding Senate Bill 5263, the Uniform Common Interest Ownership Act. A public hearing was conducted in Olympia February 4th with testimony provided by the UCIOA drafting group, representatives of the building and banking industries, homeowners and the LAC co-chairs.

The process revealed great passion on a number of issues with clear identification of those surrounding warranties and lien priority as flash points. After vigorous debate and two amendments to the bill, it did not make it out of the committee hearing phase this session. The bill will carry over to the 2016 legislative session.

The prime sponsoring senator Jamie Pedersen, has pledged to work with stakeholder groups in 2015 to seek an acceptable balance of interests toward this bill becoming law.

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