Section 448.4-103 – Original sale certificate, general provisions.
Effective – 28 Aug 1983 448.4-103. Original sale certificate, general provisions. — 1. An original sale certificate shall contain or fully and accurately disclose: (1) The name and principal address of the declarant and of the condominium; (2) A general description of the condominium, including, to the extent possible, the types, number, and declarant’s schedule […]
Section 448.4-104 – Original sale certificate, condominiums subject to development rights.
Effective – 28 Aug 1983 448.4-104. Original sale certificate, condominiums subject to development rights. — If the declaration provides that a condominium is subject to any development rights, the original sale certificate shall disclose, in addition to the information required by section 448.4-103: (1) The maximum number of units, and the maximum number of units […]
Section 448.4-105 – Original sale certificate, time-shares.
Effective – 28 Aug 1983 448.4-105. Original sale certificate, time-shares. — If the declaration provides that ownership or occupancy of any units is or may be in time-shares, the original sale certificate shall disclose, in addition to the information required by section 448.4-103: (1) The number and identity of units in which time-shares may be […]
Section 448.4-106 – Original sale certificate, condominiums containing conversion buildings.
Effective – 28 Aug 1983 448.4-106. Original sale certificate, condominiums containing conversion buildings. — 1. The original sale certificate of a condominium containing any conversion building shall contain, in addition to the information required by section 448.4-102: (1) A statement of work done, including the nature thereof, on the foundation, structural members, roof, chimney, gutters […]
Section 448.3-113 – Insurance.
Effective – 28 Aug 1983 448.3-113. Insurance. — 1. Commencing not later than the time of the first conveyance of a unit to a person other than a declarant, the association shall maintain, to the extent reasonably available: (1) Property insurance on the common elements, insuring against all risks of direct physical loss commonly insured […]
Section 448.3-114 – Surplus funds.
Effective – 28 Aug 1983 448.3-114. Surplus funds. — Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liability or credited to them to reduce […]
Section 448.3-115 – Assessments for common expenses.
Effective – 28 Aug 1983 448.3-115. Assessments for common expenses. — 1. 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 shall be made at least annually and shall be based on a budget adopted at least […]
Section 448.3-106 – Bylaws.
Effective – 28 Aug 2001 448.3-106. Bylaws. — 1. The bylaws of the association shall provide for: (1) The number of members of the executive board and the titles of the officers of the association; (2) Election by the executive board of a president, treasurer, secretary, and any other officers of the association the bylaws […]
Section 448.3-107 – Upkeep of condominium.
Effective – 28 Aug 1983 448.3-107. Upkeep of condominium. — 1. Except to the extent provided by the declaration, subsection 2 of this section, or subsection 8 of section 448.3-113, the association is responsible for maintenance, repair, and replacement of the common elements, and each unit owner is responsible for maintenance, repair, and replacement of […]
Section 448.3-108 – Meetings.
Effective – 28 Aug 1983 448.3-108. Meetings. — A meeting of the association shall be held at least once each year. Special meetings of the association may be called by the president or by twenty percent, or any lower percentage specified in the bylaws, of either the executive board or the unit owners. Not less […]