LEG00267

• Bill Number: SB05-246
• Year: 2005
• Title: Concerning environmental covenants, and, in connection therewith, establishing conformity with the "Uniform Environmental Covenants Act" with respect to the role of holders of enforcement rights, the
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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(h) THERE IS NO HOLDER OR THE HOLDER DIES, CEASES TO EXIST,
RESIGNS, OR IS REPLACED; OR
(i) THE OWNER OF AN INTEREST SUBJECTTO THE ENVIRONMENTAL

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4 COVENANT AND THE HOLDER ARE THE SAME PERSON,
5 ffl (4) The requirements and restrictions of an environmental
6 covenant are requirements under thispart 3 but may only be enforced as
7 pro~ded in section 25-15-322, The creation. of an environmental
8 covenant does not trigger the application of any other requirement of this

9 part 3.
10 ~ (5) TllG depcuD.uGllt shall not acquire- "uy liabilit)- undei state
11 law by virtue- of accGpting an e-milOilfi1(;,ltal cOvenant, nor shall any
12 n",ncd bcndiciary of an e-uvilOnmcntal c.:>.enant acquire any liability
13 nndcr slate- law by .irtue of being snd. a be-ndiciary, ANy PERSON,

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INCLUDING A PERSON THAT OWNS AN INTEREST IN THE REAL PROPERTY,

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15 THE DEPARTMENT, OR A MUNICIPALITY. OR OTHER UNIT OF LOCAL
16 GOVERNMENT, MAY BE A HOLDER, AN ENVIRONMENTAL COVENANT MAY
17 IDENTIFY MORE THAN~ ONE HOLDER, THE INTEREST OF A HOLDER IS AN .

18 INTEREST IN REAL PROPERTY. THE DEPARTMENT DOES NOT BECOME A

19 HOLDER MERELY BY SIGNING AN ENVIRONMENTAL COVENANT, AND ITS
20 INTEREST AS A SIGNATORY PARTY DOES NOT CREATE AN INTEREST IN REAL
21 PROPERTY.

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(6) A PERSON THAT SIGNS AN ENVIRONMENTAL COVENANT IS

23 BOUND BY THE OBLIGATIONS THE PERSON ASSUMES IN THE COVENANT, BUT
24 SIGNING THE COVENANT DOES NOT CHANGE OBLIGATIONS, RIGHTS, OR
25 PROTECTIONS GRANTED OR IMPOSED UNDER LAW OTHER THAN THIS
26 SUBPART 2 EXCEPT AS PROVIDED IN THE COVENANT.

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(7) THE FOLLOWING RULES APPLY TO INTERESTS IN REAL PROPERTY

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SB05-246