Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · STATUTE-COMPILATIONS · Compilation 10426 · Sec. 608

Sec. 608. optional termination of self-dealing contracts

275 words·~1 min read·/statute-compilations/comps-10426/sec-608

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## Sec. 608 optional termination of self-dealing contracts **[**[15 U.S.C. 3607](/us/usc/t15/s3607)**]** ###
(a)Any contract or portion thereof which is entered into after the effective date of this title, and which— ####
(1)provides for operation, maintenance, or management of a condominium or cooperative association in a conversion project, or of property serving the condominium or cooperative unit owners in such project; ####
(2)is between such unit owners or such association and the developer or an affiliate of the developer; ####
(3)was entered into while such association was controlled by the developer through special developer control or because the developer held a majority of the votes in such association; and ####
(4)is for a period of more than three years, including any automatic renewal provisions which are exercisable at the sole option of the developer or an affiliate of the developer, may be terminated without penalty by such unit owners or such association. ###
(b)Any termination under this section may occur only during the two-year period beginning on the date on which— ####
(1)special developer control over the association is terminated; or ####
(2)the developer owns 25 per centum or less of the units in the conversion project, whichever occurs first. ###
(c)A termination under this section shall be by a vote of owners of not less than two-thirds of the units other than the units owned by the developer or an affiliate of the developer. ###
(d)Following the unit owners' vote, the termination shall be effective ninety days after hand delivering notice or mailing notice by prepaid United States mail to the parties to the contract.
Connectionstraces to 1
Citation graph
cites case law
Sec. 608
optional termination of self-dealing contracts
U.S.C.§ 3607
Cites 1Cited by 0 across 0 sources
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.