HomeMy WebLinkAbout9635 - Senate Bill 823RESOLUTION NO. 9635
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH SUPPORTING SENATE BILL 823
TO INCLUDE STOCK COOPERATIVES WITHIN THE
SUBDIVISION MAP ACT
WHEREAS, there is a legal question as to whether
or not stock cooperatives are included within the definition
of "condominiums" within the Subdivision Map Act to provide
for local control over the creation of stock cooperatives and
the conversion of apartments to stock cooperatives; and
WHEREAS, the stock cooperative concept involves the
same social and economic issues as condominiums; and
WHEREAS, it is desirable to regulate stock coopera-
tives in the same manner and fashion as condominiums,
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Newport Beach that the City of Newport Beach
supports the adoption of SB 823 to include stock cooperatives
within the control under the Subdivision Map Act.
BE IT FURTHER RESOLVED that the City Clerk is hereby
authorized and directed to furnish a copy of this resolution
to Senator John Schmitz.
ADOPTED this 10th day of September , 1979.
L,
ATTEST:
Ci y Clerk
_ C TttIED AS T CeFIC'slldAl
CITY CLERK Of THE CRY Ot NZWK RT lf�l
DATE_ SEP 17 1979
HRC /kv
9/5/79