68 Pennsylvania Consolidated Statutes Chapter 43 - Management Of Cooperatives

• Chapter Notes
• Section 4301 - Organization Of Association
  An association must be organized prior to the date the first cooperative interest in the cooperative is conveyed to anyone other than the declarant...
• Section 4302 - Powers Of Association
  (a) General rule.--Except as provided in subsection (b) and subject to the provisions of the declaration, the association may: (1) Adopt and amend bylaws...
• Section 4303 - Executive Board Members And Officers
  (a) Fiduciary status and exercise of duties.--Except as provided in the declaration, the bylaws in subsection (b) or in other provisions of this subpart,...
• Section 4304 - Transfer Of Special Declarant Rights
  (a) Execution and recording of instrument of transfer.--No special declarant rights (section 4103) created or reserved under this subpart may be transferred except by...
• Section 4305 - Termination Of Contracts And Leases Of Declarant
  If entered into before the executive board elected by the proprietary lessees pursuant to section 4303(f) (relating to executive board members and officers) takes...
• Section 4306 - Bylaws
  (a) Mandatory provisions.--The bylaws of the association must provide for: (1) The number of members of the executive board and the titles of the...
• Section 4307 - Upkeep Of Cooperative
  (a) General rule.--Except to the extent provided by the declaration, subsection (b), section 4313(g) (relating to insurance) or 4321(g) (relating to limited equity cooperatives),...
• Section 4308 - Meetings
  A meeting of the association must be held at least once each year. Special meetings of the association may be called by the president,...
• Section 4309 - Quorums
  (a) Association.--Unless the bylaws provide otherwise, a quorum is deemed present throughout any meeting of the association if persons entitled to cast 20% of...
• Section 4310 - Voting; Proxies
  (a) Multiple owners of a unit.--If only one of the multiple proprietary lessees of a unit is present or represented by proxy at a...
• Section 4311 - Tort And Contract Liability
  (a) General rule.--Neither the association nor any proprietary lessee except the declarant is liable for that declarant's torts in connection with any part of...
• Section 4312 - Conveyance Or Encumbrance Of Cooperative
  (a) General rule.--Except as is otherwise provided in section 4321(h) (relating to limited equity cooperatives), part of the cooperative may be conveyed and all...
• Section 4313 - Insurance
  (a) Insurance to be carried by association.--Commencing not later than the time of the first conveyance of a cooperative interest to a person other...
• Section 4314 - Assessments For Common Expenses
  (a) General rule.--Until the association makes a common expense assessment, the declarant shall pay all common expenses. After any assessment has been made by...
• Section 4315 - Lien For Assessments
  (a) General rule.--The association has a lien on a cooperative interest for any assessment levied against that cooperative interest, including payments to be made...
• Section 4316 - Other Liens Affecting Cooperative
  (a) General rule.--Property of a proprietary lessee other than his cooperative interest is not subject to claims of the association's creditors, whether or not...
• Section 4317 - Association Records
  (a) General rule.--During the period of declarant control, the association shall keep detailed financial records, including without limitation, a record of expenses paid by...
• Section 4318 - Association As Trustee
  With respect to a third person dealing with the association in the association's capacity as a trustee pursuant to section 4217 (relating to termination...
• Section 4319 - Termination Of Cooperative Interest
  (a) General rule.--The association's right to terminate a cooperative interest shall be exercised by judicial sale of the cooperative interest in like manner as...
• Section 4320 - Declarant Delivery Of Items To Association
  Except as set forth in paragraph (9), not later than 60 days after the required termination of the period of declarant control pursuant to...
• Section 4321 - Limited Equity Cooperatives
  (a) General rule.--Except as is otherwise expressly provided in this section, limited equity cooperatives shall be created and operated pursuant to the other provisions...

Last modified: October 8, 2016