Cosmo Board Training
Published on Nov 21, 2016
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PRESENTATION OUTLINE
Cosmo Board Training
November 21, 2016
Applicable Laws
- ORS 100 - Condominium Act
- ORS 65 - Nonprofit Corp Act
- Fair Housing Act
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Governing Documents
- Declaration / CC&Rs
- Plat
- Bylaws
- Articles of Incorporation
- Rules & Regulations
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Fiduciary Duties & Business Judgment
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Board Authority
- Levy Assessments
- Maintain Common Property
- Adopt Rules
- Adopt Budgets
- Initiate & Defend Litigation
- Levy Fines
- Enforce Governing Documents
Owner Obligations
- Comply with Governing Documents
- Pay Assessments
- Elect & Remove Board Members
- Amend Declaration & Bylaws
Committees
- Broad authority to create committees
- Committees make recommendations; Board adopts
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Types of Committees
- Architectural
- Finance
- Social
- Governing Document
- Communication
Working With Management
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