Kansas Statutes 58-4609. Officers, board of directors duties; restrictions
(a) In the performance of their duties, officers and members of the board of directors appointed by the declarant shall exercise the degree of care and loyalty to the association required of a trustee. Officers and members of the board of directors not appointed by the declarant shall exercise the degree of care and loyalty to the association required of an officer or director of a corporation organized, and are subject to the conflict of interest rules governing directors and officers, under existing law. The standards of care and loyalty described in this section apply regardless of the form in which the association is organized.
(b) An association shall have a board of directors created in accordance with its declaration or bylaws. Except as otherwise provided in the declaration, the bylaws, subsection (c), or other provisions of this act, the board of directors acts on behalf of the association.
Terms Used In Kansas Statutes 58-4609
- Association: means the unit owners association. See Kansas Statutes 58-4602
- Board of directors: means the body, regardless of name, designated in the declaration or bylaws which has power to act on behalf of the association. See Kansas Statutes 58-4602
- Bylaws: means the instruments, however denominated, that contain the procedures for conduct of the affairs of the association, regardless of the form in which the association is organized, including any amendments to the instruments. See Kansas Statutes 58-4602
- Common interest community: means real estate described in a declaration with respect to which a person, by virtue of the person's ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in that declaration. See Kansas Statutes 58-4602
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Declarant: means a person or group of persons acting in concert that:
(1) As part of a common promotional plan, offers to dispose of the interest of the person or group of persons in a unit not previously disposed of; or
(2) reserves or succeeds to any declarant right. See Kansas Statutes 58-4602
- Declaration: means the instrument, however denominated, that creates a common interest community, including any amendments to that instrument. See Kansas Statutes 58-4602
- Trustee: A person or institution holding and administering property in trust.
(c) The board of directors may not:
(1) Amend the declaration except as provided by law other than this act;
(2) amend the bylaws;
(3) terminate the common interest community;
(4) elect members of the board of directors, but may fill vacancies in its membership for the unexpired portion of any term or, if earlier, until the next regularly scheduled election of board of directors’ members; or
(5) determine the qualifications, powers, duties, or terms of office of board of directors’ members.
(d) This section shall take effect on and after January 1, 2011.