Oregon Statutes 100.418 – Receivership for failure of association to fill vacancies on board of directors
(1) Subject to subsection (2) of this section, if an association of unit owners fails to fill vacancies on the board of directors sufficient to constitute a quorum in accordance with the bylaws, a unit owner or a first mortgagee of a unit may request the circuit court of the county in which the condominium is located to appoint a receiver to manage the affairs of the association.
Terms Used In Oregon Statutes 100.418
- association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagee: means any person who is:
(a) A mortgagee under a mortgage;
(b) A beneficiary under a trust deed; or
(c) The vendor under a land sale contract. See Oregon Statutes 100.005
- Quorum: The number of legislators that must be present to do business.
- Turnover meeting: means the meeting provided for under ORS § 100. See Oregon Statutes 100.005
(2) At least 45 days before a unit owner or first mortgagee of a unit requests the circuit court to appoint a receiver under subsection (1) of this section, the unit owner or first mortgagee shall mail, by certified or registered mail, a notice to the association and shall post a copy of the notice at a conspicuous place or places on the property or provide notice by a method otherwise reasonably calculated to inform unit owners of the proposed action.
(3) The notice shall be signed by the unit owner or first mortgagee of the unit and include:
(a) A description of the intended action.
(b) A statement that the intended action is pursuant to this section.
(c) The date, not less than 30 days after mailing of the notice, by which the association must fill vacancies on the board sufficient to constitute a quorum.
(d) A statement that if the association fails to fill vacancies on the board by the specified date, the unit owner or first mortgagee may file a petition with the court under subsection (1) of this section.
(e) A statement that if a receiver is appointed, all expenses of the receivership will be common expenses of the association as provided in subsection (4) of this section.
(4) If a receiver is appointed, the salary of the receiver, court costs, attorney fees and all other expenses of the receivership shall be common expenses of the association.
(5) A receiver appointed under this section has all of the powers and duties of a duly constituted board of directors and shall serve until a sufficient number of vacancies on the board are filled to constitute a quorum.
(6) If at a turnover meeting held in accordance with ORS § 100.210 the unit owners fail to elect the number of directors sufficient to constitute a quorum of the board of directors, in addition to the notice requirements specified in subsections (2) and (3) of this section, a unit owner shall give the notice to all other unit owners as provided in the bylaws.
(7) Notwithstanding subsections (2) and (3) of this section, in the case of an emergency, the court may waive the notice requirements of subsections (2) and (3) of this section. [2007 c.409 § 19; 2017 c.358 § 51]
100.418, 100.419 and 100.423 were added to and made a part of ORS Chapter 100 by legislative action but were not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.