47F-3-101. Organization of owners' association.
A lot owners' association shall be incorporated no later than the date the first lot in the planned community is conveyed. The membership of the association at all times shall consist exclusively of all the lot owners or, following termination of the planned community, of all persons entitled to distributions of proceeds under G.S. 47F-2-118. Every association created after the effective date of this Chapter shall be organized as a nonprofit corporation. (1998-199, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 47F - North Carolina Planned Community Act
Article 3 - Management of Planned Community.
§ 47F-3-101 - Organization of owners' association.
§ 47F-3-102 - Powers of owners' association.
§ 47F-3-103 - Executive board members and officers.
§ 47F-3-104 - Transfer of special declarant rights.
§ 47F-3-105 - Termination of contracts and leases of declarant.
§ 47F-3-107 - Upkeep of planned community; responsibility and assessments for damages.
§ 47F-3-107.1 - Procedures for fines and suspension of planned community privileges or services.
§ 47F-3-110 - Voting; proxies.
§ 47F-3-111 - Tort and contract liability.
§ 47F-3-112 - Conveyance or encumbrance of common elements.
§ 47F-3-115 - Assessments for common expenses.
§ 47F-3-116 - Lien for sums due the association; enforcement.
§ 47F-3-116.1 - Validation of certain nonjudicial foreclosure proceedings and sales.
§ 47F-3-118 - Association records.
§ 47F-3-119 - Association as trustee.
§ 47F-3-120 - Declaration limits on attorneys' fees.
§ 47F-3-121 - American and State flags and political sign displays.