§ 47C-3-117 – Other liens affecting the condominium.
47C-3-117. Other liens affecting the condominium. (a) A judgment for money against the association is not a lien on the common elements, but if docketed is a lien in favor of the judgment lienholder against all of the units in the condominium at the time the judgment was entered. No other property of a unit […]
§ 47C-3-118 – Association records.
47C-3-118. Association records. (a) The association shall keep financial records sufficiently detailed to enable the association to comply with this chapter. All financial and other records, including records of meetings of the association and executive board, shall be made reasonably available for examination by any unit owner and the unit owner’s authorized agents as required […]
§ 47C-3-119 – Association as trustee.
47C-3-119. Association as trustee. With respect to a third person dealing with the association in the association’s capacity as a trustee under G.S. 47C-2-118 following termination or G.S. 47C-3-113 for insurance proceeds, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound […]
§ 47C-3-121 – American and State flags and political sign displays.
47C-3-121. American and State flags and political sign displays. Notwithstanding any provision in any declaration of covenants, no restriction on the use of land shall be construed to: (1) Regulate or prohibit the display of the flag of the United States or North Carolina, of a size no greater than four feet by six feet, […]
§ 47C-3-122 – Irrigation of landscaping.
47C-3-122. Irrigation of landscaping. Notwithstanding any provision in any declaration of covenants, no requirement to irrigate landscaping shall be construed to: (1) Require the irrigation of landscaping, during any period in which the U.S. Drought Monitor, as defined in G.S. 143-350, or the Secretary of Environmental Quality has designated an area in which the association […]
§ 47C-4-101 – Applicability; waiver.
47C-4-101. Applicability; waiver. (a) This Article applies to all units subject to this chapter, except as provided in subsection (b) or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use. (b) Neither a public offering statement nor a resale certificate need be […]
§ 47C-4-102 – Liability for public offering statement requirements.
47C-4-102. Liability for public offering statement requirements. (a) Except as provided in subsection (b), a declarant must, prior to the offering of any interest in a unit to the public, prepare a public offering statement conforming to the requirements of G.S. 47C-4-103, 47C-4-104, 47C-4-105, and 47C-4-106. (b) A declarant may transfer responsibility for preparation of […]
§ 47C-3-114 – Surplus funds.
47C-3-114. Surplus funds. Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provisions for common expenses and any prepayment of reserves must be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments. (1985 […]
§ 47C-3-106 – Bylaws.
47C-3-106. Bylaws. (a) 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 the officers of the association; (3) The qualifications, powers and duties, terms of office, and manner of electing and […]
§ 47C-3-107 – Upkeep; damages; assessments for damages, fines.
47C-3-107. Upkeep; damages; assessments for damages, fines. (a) Except as provided in G.S. 47C-3-113(h), the association is responsible for causing the common elements to be maintained, repaired, and replaced when necessary and to assess the unit owners as necessary to recover the costs of such maintenance, repair, or replacement except that the cost of maintenance, […]