33-1255

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 C, D, E and F of this section, all
common expenses shall be assessed against all the units in accordance with the
allocations set forth in the declaration pursuant to section 33-1217, subsection A. Any
past due common expense assessment or installment bears interest at the rate established
by the board subject to the condominium documents.

C. Unless otherwise provided for in the declaration all of the following apply:

1. Any common expense associated with the maintenance, repair or replacement of a
limited common element shall be equally assessed against the units to which the limited
common element is assigned.

2. Any common expense or portion of a common expense benefitting fewer than all of
the units shall be assessed exclusively against the units benefitted.

D. Assessments to pay a judgment against the association may be made only against
the units in the condominium at the time the judgment was entered, in proportion to their
common expense liabilities.

E. If any common expense is caused by the misconduct of any unit owner, the
association may assess that expense exclusively against that unit.

F. If the declaration so provides, the common expense assessment for any unit on
which construction has not been substantially completed may be an amount which is not
less than twenty-five per cent of the common expense assessment for units which have been
substantially completed. However, this reduced common expense assessment shall not be
permitted, unless the declarant is obligated under the declaration to pay to the
association any deficiency in monies due to the declarant having paid a reduced common
assessment and necessary for the association to be able to timely pay all common
expenses.

G. If common expense liabilities are reallocated, common expense assessments and
any installment on the assessments not yet due shall be recalculated in accordance with
the reallocated common expense liabilities.

H. This section does not apply to timeshare plans or associations that are subject
to chapter 20 of this title.