(a) Scope of warranty. A developer must give a cooperative and its members a warranty on the structural elements of the real property of the cooperative, including:
(1) Roof;
(2) Foundation;
(3) Ceilings;
(4) Floor;
(5) Walls; and
(6) Mechanical, electrical, and plumbing systems.
(b) Provision of warranty. A developer must warrant that:
(1) The developer is responsible for correcting a defect in material or workmanship; and
(2) The structural elements meet industry standards that were in effect when the building was constructed.
(c) Beginning of warranty. A warranty under this section begins with the first issue of a membership certificate to a purchaser other than the developer.
(d) Incomplete structural element. If a structural element is not complete at the time of the first issue of a membership certificate, the warranty on that structural element begins with the latter of:
(1) Completion of the structural element; or
(2) Availability of the structural element for use by all members.
(e) Warranty period.
(1) A one-year warranty covers elements within the exclusive use of a member occupying an individual unit, including:
(i) Internal walls;
(ii) Ceilings;
(iii) Floors;
(iv) Doors;
(v) Fixtures; and
(vi) Appliances.
(2) A three-year warranty covers elements within the common use of all members, including:
(i) External and supporting walls;
(ii) Roof;
(iii) Foundation;
(iv) Mechanical, electrical, and plumbing systems; and
(v) Common area walls, floors, ceilings, and doors.
(f) Applicability of warranty. A warranty under this section does not apply to a defect caused by abuse or failure to perform maintenance by:
(1) A member; or
(2) A cooperative after control transfers to cooperative members.
(g) Notice of defect. Within the warranty period, either a member or the cooperative must give the developer notice of a defect that is known.
(h) Suit for enforcement. Within one (1) year after a warranty period ends, the member or the cooperative may file a suit for enforcement of a warranty under this section. (1985 L.M.C., ch. 39, § 1.)