Front | Back |
Along with eleclusive ownership of a single unit and joint ownership of common elements, the cono concept is made up of :
|
Operation by the condominuim assoc
|
The basic structure and arears of responsibility of a condo assoc are established by the:
|
Articles of incorporation
|
Part IV of the condo act states that rent escalation clauses basedon the C. P. I are:
|
Unconscionable and unenforceable
|
A valid proxy given by one of the owners of the Never Show Condo Assoc may:
|
Serve as a valid proxy and voting certificate if given by one of the multiple owners
|
Vacancies on the board may be filled by:
|
The remaining board even if less than a majority
|
What vote of the unit owners in a condo is required to petition the Ombundsman to appoint an election monitor to attend the annul meeeting of the owners and to conduct the election of directors.
|
15% of the voting interests or six unit owners, whicever is greater
|
The board of the Noncompliance Codo wants to vote on a motion for an item that was not included on the agenda for the meeting. What vote will be required to approve such a motion?
|
A majority plus one of the board
|
The cooperative assoc wants to cancel the pool service agreement entered into by the developer prior to transition. What vote of the non developer members is required?
|
A 75% vote of the non-developer owners is required to cancel the contract
|
The second notice of the election in a condo must be mailed:
|
With the notice of the membership meeting which must be mailed not less than 14 days in advance of the meeting
|
Even though the Sycamore Condo Assoc annual membership did not have a quorum, the scheduled election of board members would be valid if what percentage of he members cast valid ballots?
|
20%
|
The purpose of the annual meeting of a community assoc is to:
|
Provide the membership the opportunity to review the affairs of the community.
|
Filed with
|
Department of State
|
Recored with
|
Clerk of the Circuit Court
|
Disabilities Act refers to companies with
|
15 or more employees
|
What is the notice requirement for a budget meeting in a cooperative?
|
14
|