Who must approve amendments to the declaration?

The correct answer indicates that homeowners must approve amendments to the declaration. In community associations, homeowners typically have the authority to vote on significant changes to the governing documents, which includes the declaration. This aspect of community governance is crucial because amendments may affect their rights, obligations, and the overall governance of the association.

Homeowner approval ensures that those who are directly impacted by the declaration have a say in its content. This process fosters transparency and accountability within the association, allowing members to participate in maintaining the integrity and direction of their community.

Other options, such as certain third parties or the Financial Institutions Division, may have roles in the governance of a community or may be involved in the review of declarations or amendments, but they do not hold the primary responsibility for approval. Their involvement is typically limited to specific circumstances or regulations and does not replace the homeowners’ right to approve amendments.