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 distributions of proceeds under section 33-1228, or
their heirs, successors or assigns. The association shall be organized as a profit or
nonprofit corporation or as an unincorporated association.