(a) Offer required. Before a developer makes a subscription agreement for a unit or evicts a tenant to sell a membership for the unit of the tenant, the developer must:
(1) Notify the tenant of the price and other material terms of sale in the same manner as this chapter requires for other purchasers; and
(2) For at least sixty (60) days, offer the membership for that unit to the tenant.
(b) Offer if unit is changed. If a conversion plan significantly changes the dimensions of a unit, the developer must offer the tenant of that unit a membership for a unit of comparable size and location. (1985 L.M.C., ch. 39, § 1.)