§ 81-407. Common interest community securities.
§ 81-407. Common interest community securities. If an interest in a common interest community is currently registered with the Securities and Exchange Commission of the United States, a declarant satisfies all requirements relating to the preparation of a public offering statement of this chapter if the declarant delivers to the purchaser a copy of the […]
§ 81-317. Other liens.
§ 81-317. Other liens. (a) In a condominium or planned community: (1) Except as provided in paragraph (a)(2) of this section, a judgment for money against the association if recorded or docketed, is not a lien on the common elements, but is a lien in favor of the judgment lien holder only against all units […]
§ 81-408. Purchaser’s right to cancel.
§ 81-408. Purchaser’s right to cancel. (a) A person required to deliver a public offering statement pursuant to § 81-402(c) of this title shall provide a purchaser with a copy of the public offering statement and all amendments thereto before conveyance of the unit, and not later than the date of any contract of sale. […]
§ 81-318. Association records.
§ 81-318. Association records. (a) The association shall maintain the following records in written form or in another form capable of conversion into written form within a reasonable time: (1) Detailed records of receipts and expenditures affecting the operation and administration of the association and other appropriate accounting records, including those for the repair and […]
§ 81-409. Resales of units.
§ 81-409. Resales of units. (a) Except in the case of a sale in which delivery of a public offering statement is required, or unless exempt under § 81-401(b) of this title, a unit owner shall furnish to a purchaser not later than the time of the signing of the contract to purchase, a copy […]
§ 81-319. Association as trustee.
§ 81-319. Association as trustee. With respect to a third person dealing with the association in the association’s capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association has power to act as […]
§ 81-320. Rules.
§ 81-320. Rules. (a) Before adopting or substantially amending any rule, the executive board must notify all unit owners of: (i) its intention to adopt the proposed rule and (ii) a date on which the executive board will convene a meeting to receive comments on them from the unit owners. (b) If the right is […]
§ 81-321. Litigation involving declarant.
§ 81-321. Litigation involving declarant. (a) An association’s authority under § 81-302(a)(4) of this title to commence and pursue litigation involving the common interest community is subject to the following rules: (1) Before the association commences litigation, arbitration or any administrative proceedings against a declarant or any person employed by or under contract with a […]
§ 81-323. Removal of members of executive board.
§ 81-323. Removal of members of executive board. Notwithstanding any provision of the declaration or bylaws to the contrary, the unit owners, by a two-thirds vote of all persons present, in person, by proxy or by ballot, and entitled to vote at any meeting of the unit owners at which a quorum is present, may […]
§ 81-324. Adoption of budget.
§ 81-324. Adoption of budget. (a) The executive board shall, at least annually, prepare a proposed budget for the common interest community. In a condominium or cooperative, the proposed budget shall include a line item for any required funding of a repair and replacement reserve. Within 30 days after adoption of any proposed budget after […]