Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.
If the declaration provides that a common interest community is subject to any development
rights, the public offering statement shall disclose, in addition to the information
required by section 4-103 of this title:
(1) the maximum number of units and the maximum number of units per acre that may be created;
(2) how many or what percentage of the units that may be created will be restricted exclusively
to residential use, or a statement that no representations are made regarding use
restrictions;
(3) if any of the units that may be built within real estate subject to development rights
are not to be restricted exclusively to residential use, a statement, with respect
to each portion of that real estate, of the maximum percentage of the real estate
areas and the maximum percentage of the floor areas of all units that may be created
therein, that are not restricted exclusively to residential use;
(4) a brief narrative description of any development rights reserved by a declarant and
of any conditions or limitations upon the exercise of development rights;
(5) the maximum extent to which each unit’s allocated interest may be changed by the exercise
of any development right described in subdivision (3) of this section;
(6) the extent to which any buildings or other improvements that may be erected pursuant
to any development right in any part of the common interest community will be compatible
with existing buildings and improvements in the common interest community in terms
of architectural style, quality of construction and size, or a statement that no assurances
are made regarding compatibility;
(7) description of all other improvements that may be made and limited common elements
that may be created within any part of the common interest community pursuant to any
development right reserved by the declarant, or a statement that no assurances are
made in that regard;
(8) limitations on the location of any building or other improvement that may be made
within any part of the common interest community pursuant to any development right
reserved by the declarant, or a statement that no assurances are made in that regard;
(9) a statement that any limited common elements created pursuant to any development right
reserved by the declarant will be of the same general types and sizes as the limited
common elements within other parts of the common interest community, or a statement
of the types and sizes planned, or a statement that no assurances are made in that
regard;
(10) a statement that the proportion of limited common elements to units created pursuant
to any development right reserved by the declarant will be approximately equal to
the proportion existing within other parts of the common interest community, or a
statement of any other assurances in that regard, or a statement that no assurances
are made in that regard; and
(11) the extent to which any assurances made pursuant to this section apply or do not apply
in the event that any development right is not exercised by the declarant. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)