§ 47F-3-109 – Quorums.
47F-3-109. Quorums. (a) Unless the bylaws provide otherwise, a quorum is present throughout any meeting of the association if persons entitled to cast ten percent (10%) of the votes which may be cast for election of the executive board are present in person or by proxy at the beginning of the meeting. (b) Unless the […]
§ 47F-3-110 – Voting; proxies.
47F-3-110. Voting; proxies. (a) If only one of the multiple owners of a lot is present at a meeting of the association, the owner who is present is entitled to cast all the votes allocated to that lot. If more than one of the multiple owners are present, the votes allocated to that lot may […]
§ 47F-3-111 – Tort and contract liability.
47F-3-111. Tort and contract liability. (a) Neither the association nor any lot owner except the declarant is liable for that declarant’s torts in connection with any part of the planned community which that declarant has the responsibility to maintain. (b) An action alleging a wrong done by the association shall be brought against the association […]
§ 47F-3-112 – Conveyance or encumbrance of common elements.
47F-3-112. Conveyance or encumbrance of common elements. (a) Portions of the common elements may be conveyed or subjected to a security interest by the association if persons entitled to cast at least eighty percent (80%) of the votes in the association, or any larger percentage the declaration specifies, agree in writing to that action; provided […]
§ 47F-3-113 – Insurance.
47F-3-113. Insurance. (a) Commencing not later than the time of the first conveyance of a lot 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 against including fire and extended coverage […]
§ 47F-3-114 – Surplus funds.
47F-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, the funding of a reasonable operating expense surplus, and any prepayment of reserves shall be paid to the lot owners in proportion to their common expense liabilities or credited to them […]
§ 47F-2-121 – Merger or consolidation of planned communities.
47F-2-121. Merger or consolidation of planned communities. (a) Any two or more planned communities, by agreement of the lot owners as provided in subsection (b) of this section, may be merged or consolidated into a single planned community. In the event of a merger or consolidation, unless the agreement otherwise provides, the resultant planned community […]
§ 47F-3-101 – Organization of owners' association.
47F-3-101. Organization of owners’ association. A lot owners’ association shall be incorporated no later than the date the first lot in the planned community is conveyed. The membership of the association at all times shall consist exclusively of all the lot owners or, following termination of the planned community, of all persons entitled to distributions […]
§ 47F-3-102 – Powers of owners' association.
47F-3-102. Powers of owners’ association. Unless the articles of incorporation or the declaration expressly provides to the contrary, the association may do all of the following: (1) Adopt and amend bylaws and rules and regulations. (2) Adopt and amend budgets for revenues, expenditures, and reserves and collect assessments for common expenses from lot owners. (3) […]
§ 47F-3-103 – Executive board members and officers.
47F-3-103. Executive board members and officers. (a) Except as provided in the declaration, in the bylaws, in subsection (b) of this section, or in other provisions of this Chapter, the executive board may act in all instances on behalf of the association. In the performance of their duties, officers and members of the executive board […]