(1) Subject to the provisions of the declaration and other provisions of law, and pursuant to the procedures described in section 38-33.3-217, the boundaries between adjoining units may be relocated by an amendment to the declaration upon application to the association by the owners of those units.
(2) In order to relocate the boundaries between adjoining units, the owners of those units, as the applicant, must submit an application to the executive board, which application shall be executed by those owners and shall include:
Evidence sufficient to the executive board that the applicant has complied with alllocal rules and ordinances and that the proposed relocation of boundaries does not violate the terms of any document evidencing a security interest;
The proposed reallocation of interests, if any;
The proposed form for amendments to the declaration, including the plats or maps, asmay be necessary to show the altered boundaries between adjoining units, and their dimensions and identifying numbers;
A deposit against attorney fees and costs which the association will incur in reviewing and effectuating the application, in an amount reasonably estimated by the executive board; and
Such other information as may be reasonably requested by the executive board.
No relocation of boundaries between adjoining units shall be effected without thenecessary amendments to the declaration, plats, or maps, executed and recorded pursuant to section 38-33.3-217 (3) and (5).
All costs and attorney fees incurred by the association as a result of an applicationshall be the sole obligation of the applicant.
Source: L. 91: Entire article added, p. 1725, § 1, effective July 1, 1992.