§ 34-36.1-3.03 Executive board members andofficers. – (a) Except as provided in the declaration, the bylaws, subsection (b), or inother provisions of this chapter, the executive board may act in all instanceson behalf of the association. In the performance of their duties, the officersand members of the executive board are required to exercise:
(1) If appointed by the declarant, the care required offiduciaries of the unit owners; and
(2) If elected by the unit owners, ordinary and reasonablecare.
(b) The executive board may not act on behalf of theassociation to amend the declaration (§ 34-36.1-2.17), to terminate thecondominium, or to elect members of the executive board or determine thequalifications, powers and duties, or terms of office of executive boardmembers, but the executive board may fill vacancies in its membership for theunexpired portion of any term.
(c) Within thirty (30) days after adoption of any proposedbudget for the condominium, the executive board shall provide a summary of thebudget to all the unit owners, and shall set a date for a meeting of the unitowners to consider ratification of the budget not less than fourteen (14) normore than thirty (30) days after mailing of the summary. Unless at that meetinga majority of all the unit owners or any larger vote specified in thedeclaration reject the budget, the budget is ratified, whether or not a quorumis present. In the event the proposed budget is rejected, the periodic budgetlast ratified by the unit owners shall be continued until such time as the unitowners ratify a subsequent budget proposed by the executive board.
(d) Subject to subsection (e), the declaration may providefor a period of declarant control of the association, during which period adeclarant, or persons designated by him, may appoint and remove the officersand members of the executive board. Regardless of the period provided in thedeclaration, a period of declarant control terminates no later than the earlierof:
(i) Sixty (60) days after conveyance of eighty percent (80%)of the units which may be created to unit owners other than a declarant;
(ii) Two (2) years after all declarants have ceased to offerunits for sale in the ordinary course of business; or
(iii) Two (2) years after any development right to add newunits was last exercised.
(2) A declarant may voluntarily surrender the right toappoint and remove officers and members of the executive board beforeterminations of that period, but in that event he or she may require, for theduration of the period of declarant control, that specified actions of theassociation or executive board, as described in a recorded instrument executedby the declarant, be approved by the declarant before they become effective.
(e) Not later than sixty (60) days after conveyance oftwenty-five percent (25%) of the units which may be created to unit ownersother than a declarant, at least one member and not less than twenty-fivepercent (25%) of the members of the executive board must be elected by unitowners other than the declarant. Not later than sixty (60) days afterconveyance of fifty percent (50%) of the units which may be created to unitowners other than a declarant, not less than one-third (1/3) of the members ofthe executive board must be elected by unit owners other than the declarant.
(f) Not later than the termination of any period of declarantcontrol, the unit owners shall elect an executive board of at least three (3)members, at least a majority of whom must be unit owners. The executive boardshall elect the officers. The executive board members and officers shall takeoffice upon election.
(g) Notwithstanding any provision of the declaration orbylaws to the contrary, the unit owners, by a two-thirds (2/3) vote of allpersons present and entitled to vote at any meeting of the unit owners at whicha quorum is present, may remove any member of the executive board with orwithout cause, other than a member appointed by the declarant.
§ 34-36.1-3.03 Executive board members andofficers. – (a) Except as provided in the declaration, the bylaws, subsection (b), or inother provisions of this chapter, the executive board may act in all instanceson behalf of the association. In the performance of their duties, the officersand members of the executive board are required to exercise:
(1) If appointed by the declarant, the care required offiduciaries of the unit owners; and
(2) If elected by the unit owners, ordinary and reasonablecare.
(b) The executive board may not act on behalf of theassociation to amend the declaration (§ 34-36.1-2.17), to terminate thecondominium, or to elect members of the executive board or determine thequalifications, powers and duties, or terms of office of executive boardmembers, but the executive board may fill vacancies in its membership for theunexpired portion of any term.
(c) Within thirty (30) days after adoption of any proposedbudget for the condominium, the executive board shall provide a summary of thebudget to all the unit owners, and shall set a date for a meeting of the unitowners to consider ratification of the budget not less than fourteen (14) normore than thirty (30) days after mailing of the summary. Unless at that meetinga majority of all the unit owners or any larger vote specified in thedeclaration reject the budget, the budget is ratified, whether or not a quorumis present. In the event the proposed budget is rejected, the periodic budgetlast ratified by the unit owners shall be continued until such time as the unitowners ratify a subsequent budget proposed by the executive board.
(d) Subject to subsection (e), the declaration may providefor a period of declarant control of the association, during which period adeclarant, or persons designated by him, may appoint and remove the officersand members of the executive board. Regardless of the period provided in thedeclaration, a period of declarant control terminates no later than the earlierof:
(i) Sixty (60) days after conveyance of eighty percent (80%)of the units which may be created to unit owners other than a declarant;
(ii) Two (2) years after all declarants have ceased to offerunits for sale in the ordinary course of business; or
(iii) Two (2) years after any development right to add newunits was last exercised.
(2) A declarant may voluntarily surrender the right toappoint and remove officers and members of the executive board beforeterminations of that period, but in that event he or she may require, for theduration of the period of declarant control, that specified actions of theassociation or executive board, as described in a recorded instrument executedby the declarant, be approved by the declarant before they become effective.
(e) Not later than sixty (60) days after conveyance oftwenty-five percent (25%) of the units which may be created to unit ownersother than a declarant, at least one member and not less than twenty-fivepercent (25%) of the members of the executive board must be elected by unitowners other than the declarant. Not later than sixty (60) days afterconveyance of fifty percent (50%) of the units which may be created to unitowners other than a declarant, not less than one-third (1/3) of the members ofthe executive board must be elected by unit owners other than the declarant.
(f) Not later than the termination of any period of declarantcontrol, the unit owners shall elect an executive board of at least three (3)members, at least a majority of whom must be unit owners. The executive boardshall elect the officers. The executive board members and officers shall takeoffice upon election.
(g) Notwithstanding any provision of the declaration orbylaws to the contrary, the unit owners, by a two-thirds (2/3) vote of allpersons present and entitled to vote at any meeting of the unit owners at whicha quorum is present, may remove any member of the executive board with orwithout cause, other than a member appointed by the declarant.
§ 34-36.1-3.03 Executive board members andofficers. – (a) Except as provided in the declaration, the bylaws, subsection (b), or inother provisions of this chapter, the executive board may act in all instanceson behalf of the association. In the performance of their duties, the officersand members of the executive board are required to exercise:
(1) If appointed by the declarant, the care required offiduciaries of the unit owners; and
(2) If elected by the unit owners, ordinary and reasonablecare.
(b) The executive board may not act on behalf of theassociation to amend the declaration (§ 34-36.1-2.17), to terminate thecondominium, or to elect members of the executive board or determine thequalifications, powers and duties, or terms of office of executive boardmembers, but the executive board may fill vacancies in its membership for theunexpired portion of any term.
(c) Within thirty (30) days after adoption of any proposedbudget for the condominium, the executive board shall provide a summary of thebudget to all the unit owners, and shall set a date for a meeting of the unitowners to consider ratification of the budget not less than fourteen (14) normore than thirty (30) days after mailing of the summary. Unless at that meetinga majority of all the unit owners or any larger vote specified in thedeclaration reject the budget, the budget is ratified, whether or not a quorumis present. In the event the proposed budget is rejected, the periodic budgetlast ratified by the unit owners shall be continued until such time as the unitowners ratify a subsequent budget proposed by the executive board.
(d) Subject to subsection (e), the declaration may providefor a period of declarant control of the association, during which period adeclarant, or persons designated by him, may appoint and remove the officersand members of the executive board. Regardless of the period provided in thedeclaration, a period of declarant control terminates no later than the earlierof:
(i) Sixty (60) days after conveyance of eighty percent (80%)of the units which may be created to unit owners other than a declarant;
(ii) Two (2) years after all declarants have ceased to offerunits for sale in the ordinary course of business; or
(iii) Two (2) years after any development right to add newunits was last exercised.
(2) A declarant may voluntarily surrender the right toappoint and remove officers and members of the executive board beforeterminations of that period, but in that event he or she may require, for theduration of the period of declarant control, that specified actions of theassociation or executive board, as described in a recorded instrument executedby the declarant, be approved by the declarant before they become effective.
(e) Not later than sixty (60) days after conveyance oftwenty-five percent (25%) of the units which may be created to unit ownersother than a declarant, at least one member and not less than twenty-fivepercent (25%) of the members of the executive board must be elected by unitowners other than the declarant. Not later than sixty (60) days afterconveyance of fifty percent (50%) of the units which may be created to unitowners other than a declarant, not less than one-third (1/3) of the members ofthe executive board must be elected by unit owners other than the declarant.
(f) Not later than the termination of any period of declarantcontrol, the unit owners shall elect an executive board of at least three (3)members, at least a majority of whom must be unit owners. The executive boardshall elect the officers. The executive board members and officers shall takeoffice upon election.
(g) Notwithstanding any provision of the declaration orbylaws to the contrary, the unit owners, by a two-thirds (2/3) vote of allpersons present and entitled to vote at any meeting of the unit owners at whicha quorum is present, may remove any member of the executive board with orwithout cause, other than a member appointed by the declarant.
