(a) Every condominium property shall be administered by a unit owners association, which shall be governed by by-laws. No modification of or amendment to by-laws is valid unless it is set forth in an amendment to the declaration and the amendment is filed with the City Building Department.
(b) The by-laws shall provide for the following:
(1) The election from among the unit owners of a board of managers of the unit owners association, which shall exercise all power and authority of the unit owners association; the number of persons constituting the board and that the terms of not less than one-third of the members of the board expire annually; the powers and duties of the board; the compensation of its members and the method of their removal from office; and whether or not the services of a manager or managing agent may be engaged.
(2) The time and place for holding; the manner of and authority for calling, giving notice of and conducting; and the requirement, in terms of percentage of interest in the common areas and facilities of a quorum for meetings of the unit owners association and the method for obtaining proxy votes subject to Section 1302.13(d).
(3) The election by the board of managers of a president, one or more vice presidents, secretary, treasurer and such other officers as the board of managers may desire.
(4) By whom and the procedure by which maintenance, repair and replacement of the common areas and facilities may be authorized.
(5) The common expenses for which assessments may be made and the manner of collecting from the unit owners their respective shares of the common expenses;
(6) The method of distributing the common profits; and
(7) By whom and the procedure by which administrative rules governing the operation and use of the condominium property or any portion of the property may be adopted and amended.
(c) In a condominium or conversion condominium development, the unit owners association shall be established not later than the date the deed or other evidence of ownership is filed for record following the first sale of a condominium ownership interest in the development. Membership in the unit owners association shall be limited to unit owners, and all unit owners shall be members. Until the unit owners association is established, the developer shall act in all instances where action of the unit owners association or its officers is authorized or required by law or the declaration.
Not later than the time that condominium ownership interests to which twenty five percent (25%) of the undivided interests in the common areas and facilities appertain have been sold and conveyed by the developer in a condominium or conversion condominium development, the unit owners association shall meet and the unit owners, other than the developer, shall elect not less than twenty-five percent (25%) of the members of the board of managers. Not later than the time that condominium ownership interests to which fifty percent (50%) of the undivided interest appertain have been sold and conveyed, such unit owners shall elect not less than fifty percent (50%) of the members of the board of managers. When computing percentages of interest in expandable condominium properties for purposes of this subsection, the percentage of interest in common areas and facilities shall be computed by comparing the number of units sold and conveyed to the maximum number of units that may be created, as stated in the declaration pursuant to Section 1302.07.
(d) Except as stated in subsection (c) hereof, the declaration of a condominium or conversion condominium development may authorize the developer or persons designated by him to appoint and remove members of the board of managers and other officers of the unit owners association and to exercise the powers and responsibilities otherwise assigned by law or the declaration to the unit owners association, the board or other officers. Such an authorization may extend from the date of the establishment of the unit owners association until the earlier of:
(1) Two years, in the case of a condominium or conversion condominium development, of the filing of the declaration regardless of whether same includes expandable condominium property; or
(2) Thirty days after the sale and conveyance of condominium ownership interests to which appertain fifty percent (50%) of the undivided interests in the common areas and facilities to purchasers in good faith for value.
If there is a unit owner other than the developer, the declaration of a condominium or conversion condominium development shall not be amended to increase the scope or the period of control by the developer.
Within thirty days of the expiration of any period during which the developer exercises powers under this subsection, the unit owners association shall meet and elect all members of the board of managers and all other officers of the unit owners association. The persons so elected shall take office upon election.
(Ord. 5985-1981. Passed 6-8-81.)