Up to now condominiums weren’t essentially thought of to be a great investment for quite a lot of reasons, however that image has since modified dramatically. E. Besides to the extent expressly permitted or expressly required by other provisions of this chapter, or agreed to by 100 percent of the unit homeowners, no amendment to the condominium instruments shall change (i) the boundaries of any unit, (ii) the undivided curiosity in the common elements, (iii) the liability for frequent bills, or (iv) the number of votes within the unit house owners’ affiliation that appertains to any unit.
A. The declarant, the managing agent, the unit house owners’ association, or the person specified within the bylaws of the affiliation shall preserve detailed data of the receipts and expenditures affecting the operation and administration of the condominium and specifying the maintenance and restore bills of the frequent elements and some other bills incurred by or on behalf of the association.
Such bond or insurance coverage coverage shall provide coverage in an amount equal to the lesser of $1 million or the quantity of reserve balances of the unit owners’ affiliation plus one-fourth of the aggregate annual assessment of such unit house owners’ affiliation.
(2) A press release of any limitations on that choice, including, without limitation, a statement as as to if the consent of any unit house owners shall be required, and in that case, a press release as to the method whereby such consent shall be ascertained; or an announcement that there aren’t any such limitations.
D. If entered into at any time prior to the expiration of the period of declarant control, any contract, lease or agreement, aside from those subject to the provisions of subsection C, could also be entered into by or on behalf of the unit owners’ association, its executive organ, or the unit owners as a bunch, if such contract, lease or agreement is bona fide and is commercially reasonable to the unit owners’ affiliation at the time entered into under the circumstances.