|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 562
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
1784
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(A) THE COUNCIL OF UNIT OWNERS SHALL CAUSE TO BE PREPARED
AND SUBMITTED TO THE UNIT OWNERS AN ANNUAL PROPOSED BUDGET AT
LEAST 30 DAYS BEFORE ITS ADOPTION.
(B) THE ANNUAL BUDGET SHALL PROVIDE FOR AT LEAST THE
FOLLOWING ITEMS:
(1) INCOME;
(2) ADMINISTRATION;
(3) MAINTENANCE;
(4) UTILITIES;
(5) GENERAL EXPENSES;
(6) RESERVES; AND
(7) CAPITAL ITEMS.
(C) THE BUDGET SHALL BE ADOPTED AT AN OPEN MEETING OF THE
COUNCIL OF UNIT OWNERS OR ANY OTHER BODY TO WHICH THE COUNCIL OF
UNIT OWNERS DELEGATES RESPONSIBILITIES FOR PREPARING AND ADOPTING
THE BUDGET.
(D) ANY EXPENDITURE MADE OTHER THAN THOSE MADE BECAUSE OF
CONDITIONS WHICH, IF NOT CORRECTED, COULD REASONABLY RESULT IN A
THREAT TO THE HEALTH OR SAFETY OF THE UNIT OWNERS OR A
SIGNIFICANT RISK OF DAMAGE TO THE CONDOMINIUM, THAT WOULD RESULT
IN AN INCREASE IN AN AMOUNT OF ASSESSMENTS FOR THE CURRENT FISCAL
YEAR OF THE CONDOMINIUM IN EXCESS OF 15 PERCENT OF THE BUDGETED
AMOUNT PREVIOUSLY ADOPTED, SHALL BE APPROVED BY AN AMENDMENT TO
THE BUDGET ADOPTED AT A SPECIAL MEETING, UPON NOT LESS THAN 10
DAYS WRITTEN NOTICE TO THE COUNCIL OF UNIT OWNERS.
(E) THE ADOPTION OF A BUDGET SHALL NOT IMPAIR THE AUTHORITY
OF THE COUNCIL OF UNIT OWNERS TO OBLIGATE THE COUNCIL OF UNIT
OWNERS FOR EXPENDITURES FOR ANY PURPOSE CONSISTENT WITH ANY
PROVISION OF THIS TITLE.
|
|
|
|
|
|
|
|
|
|
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 31, 1983.
|
|
|
|
|
|
|
|
|
|
CHAPTER 563
(Senate Bill 899)
AN ACT concerning
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
