North Carolina General Statutes § 47C-3-101 Organization of unit owners' association

A unit owners' association shall be organized no later than the date the first unit in the condominium is conveyed. The membership of the association at all times shall consist exclusively of all the unit owners, or following termination of the condominium, of all persons entitled to distributions of proceeds under G.S. 47C-2-118. The association shall be organized as a profit or nonprofit corporation or as an unincorporated nonprofit association. (1985 (Reg. Sess., 1986), c. 877, s. 1; 2006-226, s. 4.)

Sections:  Previous  47C-2-114  47C-2-115  47C-2-116  47C-2-117  47C-2-118  47C-2-120  47C-2-121  47C-3-101  47C-3-102  47C-3-103  47C-3-104  47C-3-105  47C-3-106  47C-3-107  47C-3-107.1  Next

Last modified: March 23, 2014