33-1241. Organization of unit owners’ association A unit owners’ association shall be organized no later than the date the first unit in the condominium is conveyed. The membership of the association at all times shall consist exclusively of all the unit owners or, following termination of the condominium, of all former unit owners entitled to […]
33-1242. Powers of unit owners’ association; notice to unit owner of violation A. Subject to the provisions of the declaration, the association may: 1. Adopt and amend bylaws and rules. 2. Adopt and amend budgets for revenues, expenditures and reserves and collect assessments for common expenses from unit owners. 3. Hire and discharge managing agents […]
33-1243. Board of directors and officers; conflict; powers; limitations; removal; annual audit; applicability A. Except as provided in the declaration, the bylaws, subsection B of this section or other provisions of this chapter, the board of directors may act in all instances on behalf of the association. B. The board of directors shall not act […]
33-1244. Transfer of special declarant rights A. A special declarant right created or reserved under this chapter shall not be transferred except by an instrument evidencing the transfer recorded in every county in which any portion of the condominium is located. The instrument is not effective unless executed by the transferee. B. On transfer of […]
33-1245. Termination of contracts and leases of declarant; applicability A. A contract for any of the following, if entered into before the board of directors elected by the unit owners pursuant to section 33-1243, subsection G takes office, shall contain a provision in the contract that the contract may be terminated without penalty by the […]
33-1246. Bylaws A. At the time the unit owners’ association is organized, the association shall adopt bylaws which provide for each of the following: 1. The number of members of the board of directors and the titles of the officers of the association. 2. Election by the board of directors of a president, treasurer, secretary […]
33-1247. Upkeep of the condominium A. Except to the extent provided by the declaration, subsection C of this section or section 33-1253, subsection B, 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 the unit. On reasonable notice, each […]
33-1248. Open meetings; exceptions A. Notwithstanding any provision in the declaration, bylaws or other documents to the contrary, all meetings of the unit owners’ association and the board of directors, and any regularly scheduled committee meetings, are open to all members of the association or any person designated by a member in writing as the […]
33-1249. Quorums; applicability A. Unless the bylaws provide otherwise, a quorum is present throughout any meeting of the association if persons entitled to cast at least twenty-five per cent of the votes in the association are present in person or by proxy at the beginning of the meeting. B. Unless the bylaws specify a larger […]
33-1250. Voting; proxies; absentee ballots; applicability; definition A. If only one of the multiple owners of a unit is present at a meeting of the association, the owner is entitled to cast all the votes allocated to that unit. If more than one of the multiple owners are present, the votes allocated to that unit […]
33-1251. Tort and contract liability A. An action alleging a wrong done by the association shall be brought against the association and not against any unit owner. B. A statute of limitation affecting any right of action of the association against the declarant is tolled until the period of declarant control terminates. C. A unit […]
33-1252. Conveyance or encumbrance of common elements A. Portions of the common elements may be conveyed or subjected to a mortgage, deed of trust or security interest by the association if persons entitled to cast at least eighty per cent of the votes in the association, or any larger percentage the declaration specifies, agree to […]
33-1252.01. Conveyance of certain real property A. Real property that is held as an asset of the association and that is not held as a common element of the condominium may be conveyed by the association if persons entitled to cast at least eighty per cent of the votes in the association, or any larger […]
33-1253. Insurance A. 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, both: 1. Property insurance on the common elements insuring against all risks of direct physical loss commonly insured against or, as determined by […]
33-1254. Surplus monies Unless otherwise provided in the declaration, any surplus monies 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 liabilities or credited to them to reduce their future common expense assessments.
33-1255. Assessments for common expenses; applicability A. Until the association makes a common expense assessment, the declarant shall pay all common expenses. After any assessment has been made by the association, assessments shall be made at least annually, based on a budget adopted at least annually by the association. B. Except for assessments under subsections […]
33-1256. Lien for assessments; priority; mechanics’ and materialmen’s liens; notice; applicability A. The association has a lien on a unit for any assessment levied against that unit from the time the assessment becomes due. The association’s lien for assessments, for charges for late payment of those assessments, for reasonable collection fees and for reasonable attorney […]
33-1257. Other liens affecting the condominium A. Except as provided in subsection B of this section, a legally recorded judgment for money against the association is not a lien on the common elements but is a lien in favor of the judgment lienholder against all of the units in the condominium at the time the […]
33-1258. Association financial and other records; applicability A. Except as provided in subsection B of this section, all financial and other records of the association shall be made reasonably available for examination by any member or any person designated by the member in writing as the member’s representative. The association shall not charge a member […]
33-1259. 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 trustee […]
