(a) In a single stage condominium, three years from the date of conveyance of the first unit to a person other than a successor declarant or conveyance of 50 percent of the units.
(b) In a staged or flexible condominium, seven years from the date of conveyance of the first unit to a person other than the declarant or conveyance to persons other than a successor declarant of 50 percent of the total number of units which the declarant may submit to the provisions of this chapter under ORS 100.125 or 100.150.
(2) The declarant shall give notice of the turnover meeting in accordance with the bylaws of the condominium to each unit owner at least 10 but not more than 50 days prior to the meeting. The notice shall state the purpose of the meeting and the time and place where it is to be held.
(3) If the meeting required under subsection (1) of this section is not called by the declarant within the time specified, the meeting may be called and notice given by a unit owner or any first mortgagee of a unit.
(4) At the turnover meeting:
(a) The declarant shall relinquish control of the administration of the association of unit owners and the unit owners shall assume the control;
(b) If a quorum of the unit owners is present, the unit owners shall elect not fewer than the number of directors sufficient to constitute a quorum of the board of directors in accordance with the declaration or bylaws of the condominium; and
(c) The declarant shall deliver to the association the items specified in subsection (5) of this section.
(5) At the turnover meeting the declarant shall deliver to the association all property of the unit owners and the association of unit owners held or controlled by the declarant including, but not limited to, the following items, if applicable:
(a) The original or a photocopy of the recorded declaration and bylaws of the condominium and any supplements and amendments thereto.
(b) A copy of the articles of incorporation.
(c) The minute books, including all minutes, and other books and records of the association.
(d) The reserve study, the maintenance plan and all updates described in ORS 100.175 and other sources of information that serve as a basis for calculating reserves in accordance with ORS 100.175.
(e) Any rules and regulations which have been promulgated.
(f) Resignations of officers and members of the board of directors who are required to resign because of the expiration of any period of declarant control reserved under ORS 100.200.
(g) A financial statement. The financial statement:
(A) Must consist of a balance sheet and an income and expense statement for the preceding 12-month period or the period following the recording of the declaration, whichever period is shorter.
(B) Must be reviewed, in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants, by an independent certified public accountant licensed in the State of Oregon if the annual assessments of an association of unit owners exceed $75,000.
(h) Association funds or control thereof, including, but not limited to, funds for reserve required under ORS 100.530 (3)(b) and any bank signature cards.
(i) All tangible personal property that is property of the association and an inventory of such property.
(j) A copy of the following, if available:
(A) The as-built architectural, structural, engineering, mechanical, electrical and plumbing plans.
(B) The original specifications indicating thereon all material changes.
(C) The plans for underground site service, site grading, drainage and landscaping together with cable television drawings.
(D) Any other plans and information relevant to future repair or maintenance of the property.
(k) Insurance policies.
(L) Copies of any occupancy permits which have been issued for the condominium.
(m) Any other permits issued by governmental bodies applicable to the condominium in force or issued within one year prior to the date the unit owners assume control of the administration of the association of unit owners.
(n) A list of the general contractor and the subcontractors responsible for construction or installation of the major plumbing, electrical, mechanical and structural components of the common elements.
(o) A roster of unit owners and their addresses and telephone numbers, if known, as shown on the records of the declarant.
(p) Leases of the common elements and any other leases to which the association is a party.
(q) Employment or service contracts in which the association is one of the contracting parties or service contracts in which the association or the unit owners have an obligation or responsibility, directly or indirectly, to pay some or all of the fee or charge of the person performing the service.
(r) Any other contracts to which the association of unit owners is a party.
(6) In order to facilitate an orderly transition, during the three-month period following the turnover meeting, the declarant or an informed representative shall be available to meet with the board of directors on at least three mutually acceptable dates to review the documents delivered under subsection (5) of this section.
(7) If the declarant has complied with this section, unless the declarant otherwise has sufficient voting rights as a unit owner to control the association, the declarant is not responsible for the failure of the unit owners to elect the number of directors sufficient to constitute a quorum of the board of directors and assume control of the association in accordance with subsection (4) of this section. The declarant shall be relieved of any further responsibility for the administration of the association except as a unit owner of any unsold unit.
(8) If the unit owners present do not constitute a quorum or the unit owners fail to elect the number of directors sufficient to constitute a quorum of the board of directors at the turnover meeting held in accordance with subsection (1) of this section:
(a) At any time before the election of the number of directors sufficient to constitute a quorum, a unit owner or first mortgagee of a unit may call a special meeting for the purpose of election of directors and shall give notice of the meeting in accordance with the notice requirements in the bylaws for special meetings. The unit owners and first mortgagees present at the special meeting shall select a person to preside over the meeting.
(b) A unit owner or first mortgagee of a unit may request a court to appoint a receiver as provided in ORS 100.418. [Formerly 94.091; 1999 c.677 §46; 2001 c.756 §36; 2003 c.803 §21; 2007 c.409 §24]
Structure 2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Section 100.005 - Definitions.
Section 100.020 - Condominium provisions; restrictions.
Section 100.023 - Void and unenforceable provisions of condominium governing document.
Section 100.102 - Leasehold condominium submitted to unit ownership.
Section 100.103 - Effect of submission of leasehold condominium to unit ownership.
Section 100.105 - Contents of declaration; property name; variable property description.
Section 100.116 - Plat amendment; fees.
Section 100.117 - Correction amendment to declaration or bylaws.
Section 100.118 - Correction amendment to condominium plat; fees.
Section 100.119 - Restated declaration; restated assignment of use.
Section 100.123 - Authority to amend declaration or bylaws to comply with federal or state law.
Section 100.130 - Relocation of unit boundaries and common elements by amendment to declaration.
Section 100.135 - Amendments to declaration; requirements; procedure.
Section 100.150 - Declarant’s options until termination date.
Section 100.155 - Variable property; uses and restrictions.
Section 100.200 - Declarant control of association.
Section 100.205 - Transitional committee; notice of meeting for formation.
Section 100.210 - Turnover meeting; notice; transfer of control.
Section 100.225 - Acquisition of special declarant rights by successor declarant; exceptions.
Section 100.250 - Documents required to be filed with Real Estate Agency; fees.
Section 100.255 - Processing of documents filed with Real Estate Agency; procedures.
Section 100.260 - Condominium Information and Annual Reports; contents; fees.
Section 100.265 - Annual Report; notification; filing.
Section 100.275 - Application of ORS 100.250 to 100.280.
Section 100.280 - Termination of filing Condominium Information Report.
Section 100.285 - Resignation of designated agent; procedures; effective date.
Section 100.305 - Conversion condominium; notice.
Section 100.310 - Rights of tenants in conversion.
Section 100.315 - Improvements in conversion condominium during notice period.
Section 100.407 - Annual and special meetings of association.
Section 100.408 - Quorum for meeting of association.
Section 100.409 - Rules of order.
Section 100.410 - Adoption of bylaws; amendment.
Section 100.411 - Restated bylaws.
Section 100.413 - Approval of amended or restated bylaws.
Section 100.415 - Contents of bylaws.
Section 100.416 - Criteria for board of directors membership.
Section 100.417 - Board of directors of association; powers and duties.
Section 100.418 - Receivership for failure of association to fill vacancies on board of directors.
Section 100.419 - Assent of director to board action.
Section 100.420 - Board meetings; executive sessions.
Section 100.423 - Electronic notice to owner or director.
Section 100.427 - Methods of voting.
Section 100.428 - Electronic ballot.
Section 100.430 - Unit deeds; contents.
Section 100.435 - Insurance for individual units and common elements; fidelity bond.
Section 100.440 - Liens against property; removal from lien; effect of part payment.
Section 100.445 - Independent default clauses; option to purchase fee simple interest.
Section 100.465 - Circumstances in which deed in lieu of foreclosure extinguishes lien.
Section 100.481 - Application of ORS 100.480.
Section 100.483 - Annual budget; distribution of budget summary to owners.
Section 100.505 - Status and ownership of units.
Section 100.510 - Units and common elements distinguished.
Section 100.515 - Interest of units in common elements.
Section 100.520 - Easement held by units and common elements.
Section 100.525 - Voting or consenting.
Section 100.535 - Maintenance and improvement of units.
Section 100.540 - Use and maintenance of common elements; access for maintenance.
Section 100.550 - Service of process.
Section 100.555 - Taxation of units; exemptions; uniform appraisal and assessment; rules.
Section 100.610 - Common ownership of property removed from unit ownership; valuation; liens.
Section 100.625 - Procedure for dividing or converting units.
Section 100.626 - Legislative findings.
Section 100.627 - Electric vehicle charging stations.
Section 100.635 - Filing with commissioner; fee.
Section 100.640 - Filing; required documents and information.
Section 100.645 - Filing information to be kept current.
Section 100.658 - Limited residential condominium filing.
Section 100.660 - Nonresidential condominium or security filing; contents.
Section 100.668 - Documents and information included with filing.
Section 100.670 - Fees; hourly rate; deposit.
Section 100.675 - Inventory of filing; review; approval; timelines.
Section 100.680 - Escrow of unit sales agreement.
Section 100.685 - Contents of unit sales agreement.
Section 100.720 - Conditions prerequisite to sale.
Section 100.725 - Documents prerequisite to execution of sale agreement and conveyance of unit.
Section 100.735 - Waiver of right to cancel.
Section 100.740 - Notice to purchaser of cancellation rights; form.
Section 100.745 - Escrow documents required of successor to vendor’s interest.
Section 100.770 - Fraud and deceit prohibited.
Section 100.785 - Blanket encumbrance prohibited.
Section 100.900 - Civil penalty.
Section 100.905 - Cease and desist order; injunction.
Section 100.920 - Changes or actions that require approval or consent of mortgagee.