Condominiums

ORS 100.483
Annual budget

  • distribution of budget summary to owners


(1)

The board of directors at least annually shall adopt a budget for the association of unit owners.

(2)

The budget shall include moneys required to be allocated to the reserve account under ORS 100.175 (Reserve account for maintaining, repairing and replacing common elements).

(3)

Within 30 days after adopting the annual budget for the association, the board of directors shall provide a summary of the budget to all owners.

(4)

If the board of directors fails to adopt an annual budget, the last adopted budget shall continue in effect. [Formerly 100.412]
Note: 100.483 (Annual budget) was added to and made a part of ORS chapter 100 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
§§ 100.005 to 100.910

(formerly 94.004 to 94.480)

See also annotations under ORS 91.505 to 91.675 in permanent edition.

Notes of Decisions

Even if declarations filed for purpose of bringing development within condominium law were defective for failure to conform to statutory requirements, development was not vitiated but deficiencies would constitute mistake in transaction thus making instrument eligible for reformation in equity. Dickey v. Barnes, Mossberg, 268 Or 226, 519 P2d 1252 (1974)

Developers of planned unit developments which are not organized as condominiums cannot claim the tax advantages of the Unit Ownership Law. Brooks Resources v. Dept. of Rev., 276 Or 1177, 558 P2d 312 (1976)

Purchasers of condominium units are automatically members of the unit owners association and subject to its declaration and bylaws; where those declarations and bylaws provide discretion to the Board of Directors to assess for fees necessary to create a "unified plan for the development and operation" of the condominium, and the purchaser has alleged no abuse of discretion, the judgment of the Board of Directors is upheld. Assn. of Unit Owners of the Inn of the Seventh Mountain v. Gruenfeld, 277 Or 259, 560 P2d 641 (1977)

Acquisition of property by condominium association is not limited to property subject to annexation requirements. Gier's Liquor v. Association of Unit Owners, 124 Or App 365, 862 P2d 560 (1993)

Law Review Citations

16 WLR 253 (1979)

Chapter 100

Notes of Decisions

This chapter does not authorize regulation by the Real Estate Division of sales of "right to use" time share interests in condominiums. Royal Aloha Partners v. Real Estate Division, 59 Or App 564, 651 P2d 1350 (1982)

Law Review Citations

18 WLR 95 (1982)


Source

Last accessed
Jun. 26, 2021