[§514B-134 ] Management and contracts; developer, managing agent, and association.
172 words·~1 min read·
/hi/514b-134A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§514B-134 ] Management and contracts; developer, managing agent, and association.
(a)Any developer or affiliate of the developer or a managing agent, who manages the operation of the property from the date of recordation of the first unit conveyance until the organization of the association, shall comply with the requirements of sections 514B‑72, 514B‑103, and 514B‑149.
(b)The developer or affiliate of the developer, board, and managing agent shall ensure that there is a written contract for managing the operation of the property, expressing the agreements of all parties including, but not limited to, financial and accounting obligations, services provided, and any compensation arrangements, including any subsequent amendments. Copies of the executed contract and any amendments shall be provided to all parties to the contract. Prior to the organization of the association, any unit owner may request to inspect as well as receive a copy of the management contract from the entity that manages the operation of the property. [L 2004, c 164, pt of §2; am L 2005, c 93, §7]