Oregon Statutes 100.481 – Application of ORS 100.480
The requirements of ORS § 100.480 (5) first apply:
Terms Used In Oregon Statutes 100.481
- association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Turnover meeting: means the meeting provided for under ORS § 100. See Oregon Statutes 100.005
(1) Commencing with the fiscal year following the turnover meeting for the association of unit owners of a condominium created prior to January 1, 2004, if the turnover meeting has not yet occurred on January 1, 2004.
(2) Commencing with the fiscal year beginning in calendar year 2004 for the association of unit owners of a condominium created prior to January 1, 2004, if the turnover meeting has occurred on or before January 1, 2004.
(3) Commencing with the fiscal year following the turnover meeting for the association of unit owners of a condominium created on or after January 1, 2004. [2003 c.803 § 26; 2009 c.641 § 39]
100.481 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.