Rhode Island General Laws 34-36.1-3.01. Organization of unit owners’ association
A unit owners’ association must be organized no later than the date the first unit in the condominium is conveyed to a purchaser. The membership of the association at all times shall consist exclusively of all the unit owners or, following termination of the condominium, of all former unit owners entitled to distributions of proceeds under § 34-36.1-2.18, or their heirs, successors, or assigns. The association shall be organized as a profit or nonprofit corporation or as an unincorporated association. In the case of an unincorporated association, a certificate evidencing the names of the executive board members and mailing address for the association shall be recorded with the municipal land records department for the city or town in which the condominium is located, which shall be updated as often as necessary to reflect any changes in the composition of the executive board.
History of Section.
P.L. 1982, ch. 329, § 2; P.L. 2009, ch. 246, § 1.
Terms Used In Rhode Island General Laws 34-36.1-3.01
- 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.
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9