§ 47F-2-103. Construction and validity of declaration and bylaws. - North Carolina Statutes

§47F‑2‑103.  Construction and validity of declaration and bylaws.

(a)        All provisions ofthe declaration and bylaws are severable.

(b)        The rule againstperpetuities may not be applied to defeat any provision of the declaration,bylaws, rules, or regulations adopted pursuant to G.S. 47F‑3‑102(1).

(c)        In the event of aconflict between the provisions of the declaration and the bylaws, thedeclaration prevails except to the extent the declaration is inconsistent withthis Chapter.

(d)        Title to a lot andcommon elements is not rendered unmarketable or otherwise affected by reason ofan insubstantial failure of the declaration to comply with this Chapter.Whether a substantial failure to comply with this Chapter impairs marketabilityshall be determined by the law of this State relating to marketability. (1998‑199,s. 1.)