§1141.24. Termination of contracts

            A. During the first two years after the board of directors elected by the lot owners pursuant to R.S. 9:1141.22(C) takes office, the following contracts entered into by the association may be terminated without penalty, provided that at least ninety days' notice is given to the other party and the contract was entered into before the board of directors took office:

            (1) Any management, maintenance, or employment contract.

            (2) Any other contract with the declarant or an affiliate of the declarant that is unconscionable to the lot owners at the time that the contract was entered into.

            B. The provisions of this Section do not apply to a lease that, if terminated, would terminate the planned community or reduce its size.

            C. Nothing in this Section shall impair the ability of the association to rescind or annul a contract in accordance with other provisions of law.

            Acts 2024, No. 158, §2, eff. Jan. 1, 2025.