5301 - Organization of unit owners' association.
CHAPTER 53 MANAGEMENT OF PLANNED COMMUNITY Sec. 5301. Organization of unit owners' association. 5302. Power of unit owners' association. 5303. Executive board members and officers. 5304. Transfer of special declarant rights. 5305. Termination of contracts and leases of declarant. 5306. Bylaws. 5307. Upkeep of planned community. 5308. Meetings. 5309. Quorums. 5310. Voting; proxies. 5311. Tort and contract liability. 5312. Insurance. 5313. Surplus funds. 5314. Assessments for common expenses. 5315. Lien for assessments. 5316. Association records. 5317. Association as trustee. 5318. Conveyance or encumbrance of common facilities. 5319. Other liens affecting planned community. 5320. Declarant delivery of items to association. Enactment. Chapter 53 was added December 19, 1996, P.L.1336, No.180, effective in 45 days. Cross References. Chapter 53 is referred to in section 5102 of this title. § 5301. Organization of unit owners' association. A unit owners' association shall be organized no later than the date the first unit in the planned community is conveyed to a person other than a successor declarant. The membership of the association at all times shall consist exclusively of all the unit owners or, following termination of the planned community, of all former unit owners entitled to distributions of proceeds under section 5218 (relating to easement to facilitate completion, conversion and expansion) or their heirs, successors or assigns. The association shall be organized as a profit or nonprofit corporation or as an unincorporated association. Cross References. Section 5301 is referred to in sections 5103, 5222 of this title.