§1123.102.  Powers of unit owners' association

Subject to the provisions of the declaration, the association, even if unincorporated, may:

(1)  Adopt and amend bylaws and rules and regulations.

(2)  Adopt and amend budgets for revenues, expenditures, and reserves and make and collect assessments for common expenses from unit owners.

(3)  Hire and terminate managing agents and other employees, agents, and independent contractors.

(4)  Institute, defend, or intervene in litigation or administrative proceedings in its own name on behalf of itself or two or more unit owners on matters affecting the condominium.

(5)  Make contracts and incur liabilities.

(6)  Regulate the use, maintenance, repair, replacement, and modification of common elements.

(7)  Cause additional improvements to be made as a part of the common elements.

(8)  Acquire, hold, encumber, and convey in its own name any right, title, or interest to real or personal property.

(9)  Grant easements, leases, licenses, and concessions, through or over the common elements.

(10)  Impose and receive any payments, fees, or charges for the use, rental, or operation of the common elements other than limited common elements.

(11)  Impose charges for later payment of assessments and, after notice and an opportunity to be heard, levy reasonable fines for violations of the declaration, bylaws, and rules and regulations of the association and, when the violation is a failure to pay for services, interrupt those services until the violation has ceased.  No charge for later payment of assessments shall be imposed if the assessment is paid within ten days of the due date.  Furthermore, no such charge shall exceed thirty percent of the amount of the monthly assessment.  The condominium association shall provide to each unit owner written or electronic notice detailing all of the following:

(a)  The amount of the assessment due by the unit owner.

(b)  The due date of the assessment due by the unit owner.

(c)  Notice that the assessment is due within ten days of the due date.

(12)  Impose reasonable charges for the preparation and recordation of amendments to the declaration, resale certificates required by Section 1124.107, or statements of unpaid assessments.

(13)  Provide for the indemnification of its officers and executive board and maintain directors' and officers' liability insurance.

(14)  Exercise any other powers conferred by the declaration or bylaws.

(15)  Exercise all other powers that may be exercised in this state by legal entities of the same type as the association, and

(16)  Exercise any other powers necessary and proper for the governance and operation of the association.

Acts 1979, No. 682, §1; Acts 1988, No. 979, §1; Acts 2011, No. 180, §1, eff. June 24, 2011.