(a) This section applies to restrictions providing for the creation and operation of an architectural control committee with the power to approve or deny applications for proposed original construction or modification of a building, structure, or improvement.
(b) Unless the restrictions applicable to a residential real estate subdivision vest the architectural control committee authority in the property owners’ association before either of the following events, the architectural control committee authority automatically vests in the property owners’ association when:
(1) the term of the architectural control committee authority expires as prescribed by the restrictions;
(2) a residence on the last available building site is completed and sold;
(3) the person or entity designated as the architectural control committee in the restrictions assigns, in writing, authority to the property owners’ association; or
(4) an assignee of the original holder abandons its authority for more than one year.

(c) If the architectural control committee authority is transferred to the property owners’ association, the authority is vested in the property owners’ association until:
(1) the restrictions are modified to reflect otherwise;
(2) the restrictions are terminated; or
(3) the property owners’ association ceases to exist.
(d) If existing restrictions applicable to a subdivision do not provide for a property owners’ association and a property owners’ association has not been formed, the architectural control committee authority over the entire subdivision vests in a civic association other than a property owners’ association if:
(1) an architectural control committee created by the restrictions exercised the architectural control committee authority as provided by the restrictions over all the lots in the subdivision for at least 10 years and over a majority of the lots in the subdivision for at least 20 years;
(2) an architectural control committee created by the restrictions assigned the civic association the architectural control committee authority over a majority of the lots in the subdivision;
(3) the civic association was assigned the architectural control committee authority over a majority of the lots in the subdivision and has exercised that authority over all the lots in the subdivision for at least 10 years; and
(4) the architectural control committee authority has lapsed in the lots in which the civic association lacks authority, and the lapse is solely the result of:
(A) the automatic termination of the architectural control committee authority; or
(B) the death of a member of the architectural control committee or another cause resulting from the inability to locate a member of the architectural control committee or the member’s assigns.