Chapter 9

Card Set Information

Author:
S
ID:
215856
Filename:
Chapter 9
Updated:
2013-04-25 21:56:16
Tags:
Rights Obligations Members Directors Officers
Folders:

Description:
To examine rights and obligations of members To understand rights and obligations of board of directors and officers To understand the requirements of fining To identify conflicts that require alternative dispute mediation
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  1. What rights, privileges and obligations does the developer have?
    • Appoints the first board of directors
    • Developer appointed directors must adhere to all requirements of Condominium Act, Cooperative Act, HOA laws unless specifically exempt under the law
  2. What rights, privileges and obligations does the members have?
    • Exclusive possession of ther units and use of common elements
    • Share in common elements and any common surplus
    • Rights to use common elements
    • Exclusive rights to use common elements as determined by documents and rules.
    • Membership with full voting rights
    • Right to vote
    • An association may not take away a member's right to his unit or right to park
  3. Describe the process for a condo or coop to transfer a unit from one member to another.

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