(1) If entered into prior to the turnover meeting of the condominium, no management agreement, service contract or employment contract that is directly made by or on behalf of the association, the board of directors or the unit owners as a group shall be in excess of three years.
(2) Any contract or agreement that is subject to subsection (1) of this section entered into after January 1, 1982, may be terminated without penalty by the association or the board of directors upon not less than 30 days’ written notice to the other party given not later than 60 days after the turnover meeting.
(3) The provisions of the Condominium and Cooperative Abuse Relief Act of 1980 (15 U.S.C. 3601 to 3616), except for 15 U.S.C. 3609 and 3610, shall not apply in the State of Oregon. [Formerly 94.221; 2005 c.22 §77]
Section: Previous 100.445 100.450 100.460 100.465 100.470 100.475 100.480 100.485 100.490 100.505 100.510 100.515 100.520 100.525 100.530 NextLast modified: August 7, 2008