2006 Code of Virginia § 55-79.73 - Bylaws to be recorded with declaration; contents; unit owners\' association; executive organ; amendm...

55-79.73. Bylaws to be recorded with declaration; contents; unit owners'association; executive organ; amendment of bylaws.

A. There shall be recorded simultaneously with the declaration a set ofbylaws providing for the self-government of the condominium by an associationof all the unit owners. The unit owners' association may be incorporated.

B. The bylaws shall provide whether or not the unit owners' association shallelect an executive organ. If there is to be such an organ, the bylaws shallspecify the powers and responsibilities of the same and the number and termsof its members. Except to the extent the condominium instruments provideotherwise, any vacancy occurring in the executive organ shall be filled by avote of a majority of the remaining members of the executive organ at ameeting of the executive organ, even though the members of the executiveorgan present at such meeting may constitute less than a quorum because aquorum is impossible to obtain. Each person so elected shall serve until thenext annual meeting of the unit owners' association at which time a successorshall be elected by a vote of the unit owners. The bylaws may delegate tosuch organ, inter alia, any of the powers and responsibilities assigned bythis chapter to the unit owners' association. The bylaws shall also specifywhich, if any, of its powers and responsibilities the unit owners'association or its executive organ may delegate to a managing agent.

C. The bylaws may provide for arbitration of disputes or other means ofalternative dispute resolution in accordance with subsection B of 55-79.53.

D. In any case where an amendment to the declaration is required bysubsection (b), (c) or (d) of 55-79.56, the person or persons required toexecute the same shall also prepare and execute, and record simultaneouslywith such amendment, an amendment to the bylaws. The amendment to the bylawsshall allocate votes in the unit owners' association to new units on the samebasis as was used for the allocation of such votes to the units depicted onplats and plans recorded pursuant to subsections A and B of 55-79.58, orshall abolish the votes appertaining to former units, as the case may be. Theamendment to the bylaws shall also reallocate rights to future commonprofits, and liabilities for future common expenses not specially assessed,in proportion to relative voting strengths as reflected by the said amendment.

(1974, c. 416; 1978, c. 332; 1993, c. 667; 1998, c. 32.)