2014 Kentucky Revised Statutes CHAPTER 381 - TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.9167 Powers of unit owners' association -- Emergency assessments.
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381.9167 Powers of unit owners' association -- Emergency assessments.
(1)
Except as provided in subsection (2) of this section and subject to the
provisions of the declaration, the association, even if unincorporated, may:
(a) Adopt and amend bylaws, rules, and regulations;
(b) Adopt and amend budgets for revenues, expenditures, and reserves, and
collect assessments for common expenses from unit owners;
(c) Hire and discharge managers and other employees, agents, and
independent contractors;
(d) Institute, defend, or intervene in litigation or administrative proceedings in
its own name on behalf of itself or two (2) or more unit owners on matters
affecting the condominium;
(e) Make contracts and incur liabilities;
(f) Regulate the use, maintenance, repair, replacement, and modification of
common elements, and authorize access to any unit for those purposes;
(g) Cause additional improvements to be made as a part of the common
elements;
(h) Acquire, hold, encumber, and convey in its own name any right, title, or
interest to real or personal property, except that common elements may
only be conveyed or subjected to a lien or security interest as provided in
KRS 381.9185;
(i) Grant easements, leases, licenses, and concessions through or over the
common elements;
(j) Impose and receive payments, fees, or charges:
1.
For the use, rental, or operation of the common elements other than
limited common elements described in KRS 381.9127(2), (4), and
(6);
2.
For services provided to unit owners; and
3.
To cover emergency or extraordinary circumstances affecting the
condominium or any part thereof;
(k) Impose charges for late payment of assessments and, after notice and an
opportunity to be heard, levy reasonable fines for violations of the
declaration, bylaws, and rules and regulations of the association that may
include reimbursement to the association of reasonable fees and costs,
including attorney fees, associated with the enforcement of this
paragraph;
(l) Impose reasonable charges for the preparation and recordation of
amendments to the declaration, certificates required by KRS 381.9203, or
statements of unpaid assessments, except that:
1.
Any fee imposed for the preparation of a certificate shall not exceed
the lesser of two hundred twenty-five dollars ($225) or eighty
percent (80%) of the current monthly assessment fee charged that
unit by the association; and
2.
No more than fifty dollars ($50) shall be charged to update a
previous certificate issued in the same fiscal year of the association;
(2)
(3)
(4)
(m) Provide for the indemnification of its officers and executive board and
maintain directors' and officers' liability insurance;
(n) Assign its right to future income, including the right to receive common
expense assessments, for the purpose of securing financial
accommodations obtained by the association to perform its duties and
obligations under the declaration or KRS 381.9101 to 381.9207;
(o) Exercise any other powers conferred by the declaration or bylaws;
(p) Exercise all other powers that may be exercised in this Commonwealth
by legal entities of the same type as the association; and
(q) Exercise any other powers necessary and proper for the governance and
operation of the association.
The declaration shall not impose limitations on the power of the association to
deal with the declarant that are more restrictive than the limitations imposed on
the power of the association to deal with other persons.
Notwithstanding the declaration, an association may impose an emergency
assessment against any unit affected to:
(a) Comply with a judicial order; or
(b) Repair an emergency condition of any common structural, utility, or
mechanical component which has made, or is in imminent danger of
making, any unit, common element, or limited common element unsafe,
uninhabitable, or uninsurable, provided the association is first provided an
opinion affixed with a professional seal from a professional engineer or
licensed architect stating the emergency condition.
The emergency assessment provided for in subsection (3) of this section shall
be made upon the vote of:
(a) A simple majority of unit owners present at a special called meeting. If the
declaration does not provide for special meetings, one (1) may be called
under this subsection to address the issues identified in subsection (3) of
this section; or
(b) Seventy-five percent (75%) of the members of the association's executive
board.
Any emergency assessment made under this subsection may be reduced or
rescinded by a vote of a simple majority of total unit owners at a special
meeting.
Effective:April 11, 2012
History: Amended 2012 Ky. Acts ch. 99, sec. 4, effective April 11, 2012. -- Created
2010 Ky. Acts ch. 97, sec. 34, effective January 1, 2011.
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