Oregon Statutes - Chapter 100 - Condominiums - Section 100.485 - Duration and termination of initial management agreements and service and employment contracts; applicability of federal condominium law.

(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 daysí 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]

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Last modified: August 7, 2008