Oregon Statutes 100.483 – Annual budget; distribution of budget summary to owners
Current as of: 2023 | Check for updates
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(1) The board of directors at least annually shall adopt a budget for the association of unit owners.
Terms Used In Oregon Statutes 100.483
- association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
(2) The budget shall include moneys required to be allocated to the reserve account under ORS § 100.175.
(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]
100.483 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.