North Carolina General Statutes 47C-2-120. Master associations
(a) If the declaration for a condominium provides that any of the powers described in N.C. Gen. Stat. § 47C-3-102 are to be exercised by or may be delegated to a profit or nonprofit corporation (or unincorporated association) which exercises those or other powers on behalf of one or more condominiums or for the benefit of the unit owners of one or more condominiums, all provisions of this chapter applicable to unit owners’ associations apply to any such corporation (or unincorporated association), except as modified by this section.
(b) Unless a master association is acting in the capacity of an association described in N.C. Gen. Stat. § 47C-3-101, it may exercise the powers set forth in N.C. Gen. Stat. § 47C-3-102(a)(2) only to the extent expressly permitted in the declarations of condominiums which are part of the master association or expressly described in the delegations of power from those condominiums to the master association.
(c) If the declaration of any condominium provides that the executive board may delegate certain powers to a master association, the members of the executive board have no liability for the acts or omissions of the master association with respect to those powers following delegation.
(d) The rights and responsibilities of unit owners with respect to the unit owners’ association set forth in N.C. Gen. Stat. § 47C-3-103, 47C-3-108, 47C-3-109, and 47C-3-110 apply in the conduct of the affairs of a master association only to those persons who elect the board of a master association, whether or not those persons are otherwise unit owners within the meaning of this Chapter.
(e) Notwithstanding the provisions of N.C. Gen. Stat. § 47C-3-103(f) with respect to the election of the executive board of an association by all unit owners after the period of declarant control ends and even if a master association is also an association described in N.C. Gen. Stat. § 47C-3-101, the certificate of incorporation or other instrument creating the master association and the declaration of each condominium, the powers of which are assigned by the declaration or delegated to the master association, may provide that the executive board of the master association must be elected after the period of declarant control in any of the following ways:
(1) All unit owners of all condominiums subject to the master association may elect all members of that executive board.
Terms Used In North Carolina General Statutes 47C-2-120
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
(2) All members of the executive boards of all condominiums subject to the master association may elect all members of that executive board.
(3) All unit owners of each condominium subject to the master association may elect specified members of that executive board.
(4) All members of the executive board of each condominium subject to the master association may elect specified members of that executive board. (1985 (Reg. Sess., 1986), c. 877, s. 1.)