33 §1603-115. Assessments for common expenses
§1603-115. Assessments for common expenses (a) Until the association makes a common expense assessment, the declarant shall pay all the common expenses. After any assessment has been made by the association, assessments thereafter must be made at least annually, based on a budget adopted at least annually by the association. [PL 1981, c. 699 […]
33 §1604-111. Conversion buildings
§1604-111. Conversion buildings (a) A declarant of a condominium containing conversion buildings, and any person in the business of selling real estate for his own account who intends to offer units in such a condominium shall give each of the residential tenants and any residential subtenant in possession of a portion of a conversion building […]
33 §1603-115-A. Optional escrow of assessments
§1603-115-A. Optional escrow of assessments (a) The association may require that a person who purchases a unit after October 1, 2009 make payments into an escrow account established by the association until the balance in the escrow account for that unit is equal to 6 months of assessments as established under section 1603‑115. [PL […]
33 §1604-112. Express warranties of quality
§1604-112. Express warranties of quality (a) Express warranties made by any seller to a purchaser of a unit, if relied upon by the purchaser, are only created as follows: (1) Any written affirmation of fact or promise which relates to the unit, its use, or rights appurtenant thereto, area improvements to the condominiums that […]
33 §1603-101. Organization of unit owners’ association
§1603-101. Organization of unit owners’ association A unit owners’ association shall be organized prior to any conveyance, except a conveyance as security for an obligation, of a unit by the declarant. The membership of the association at all times shall consist exclusively of all the unit owners, or, following termination of the condominium, of all […]
33 §1603-102. Powers of unit owners’ association
§1603-102. Powers of unit owners’ association (a) Subject to the provisions of the declaration, the association may: (1) Adopt and amend bylaws and rules and regulations; [PL 1981, c. 699 (NEW).] (2) Adopt and amend budgets for revenues, expenditures and reserves and collect assessments for common expenses from unit owners; [PL 1981, […]
33 §1603-103. Executive board members and officers; declarant control
§1603-103. Executive board members and officers; declarant control (a) Except as provided in the declaration, the bylaws, in subsection (b), or other provisions of this Act, the executive board may act in all instances on behalf of the association. The declarant is a fiduciary for the unit owners with respect to actions taken or omitted […]
33 §1603-104. Transfer of special declarant rights
§1603-104. Transfer of special declarant rights (a) No special declarant rights, section 1601‑103, paragraph (25), created or reserved under this Act may be transferred except by a recorded instrument. The instrument is not effective unless executed by the transferee. [PL 1981, c. 699 (NEW).] (b) Upon transfer of any special declarant right, the liability […]
33 §1603-105. Termination of contracts and leases of declarant
§1603-105. Termination of contracts and leases of declarant If entered into before the executive board elected by the unit owners pursuant to section 1603‑103, subsection (e), takes office: (1) Any management contract, employment contract or lease of recreational or parking areas or facilities; (2) any other contract or lease between the association and a declarant […]
33 §1603-106. Bylaws
§1603-106. Bylaws (a) The bylaws of the association must provide for: (1) The number of members of the executive board and the titles of the officers of the association; [PL 1981, c. 699 (NEW).] (2) Election by the executive board of a president, treasurer, secretary and any other officers of the association the […]