Compound Condominiums Association

Key facts from Compound Condominiums Association's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Compound Condominiums Association

Governing law

Oregon Condominium Act (ORS 100.005 through 100.625) (Recital B)

Assessments & dues

Set annually by board of directors based on estimated common expenses (Section 5.3.A)

Special assessments

Allowed for unexpected expenses, insufficient funds, or other purposes; due within 30 days of notice (Section 5.3.B)

Reserves & fees

Required as part of regular assessments; deposited in separate account; two signatures required for withdrawal; may be used only for major repairs/replacements without majority consent (Section 5.5)

Pets

Cats and dogs may be kept in a unit during the day if owner also present; must be removed at night or if they become a nuisance; no other animals allowed (Section 8.8)

Maintenance

Owner liable for damage from willful or negligent acts; Association may repair and charge owner as cost reimbursement assessment with interest at 9% (Section 4.2.B)

Use restrictions

Units may be used only for storage, warehouse, and personal use; no residential purposes (Section 1.2)

Voting & meetings

Each unit has votes: Units 1-3 have 10 votes each; Units 7-20 have 5 votes each. Total 100 votes. Majority = at least 55 votes; Supermajority = at least 75 votes. (Section 3.4)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.