§ 47C-3-102. Powers of unit owners' association.
§ 47C‑3‑102. Powers of unit owners'association.
(a) Unless the declaration expressly provides to the contrary,the association, even if unincorporated, may:
(1) Adopt and amend bylaws and rules and regulations;
(2) Adopt and amend budgets for revenues, expenditures, andreserves and collect assessments for common expenses from unit owners;
(3) Hire and terminate managing agents and other employees,agents, and independent contractors;
(4) Institute, defend, or intervene in its own name inlitigation or administrative proceedings on matters affecting the condominium;
(5) Make contracts and incur liabilities;
(6) Regulate the use, maintenance, repair, replacement, andmodification of common elements;
(7) Cause additional improvements to be made as a part of thecommon elements;
(8) Acquire, hold, encumber, and convey in its own name anyright, title, or interest to real or personal property, provided that commonelements may be conveyed or subjected to a security interest only pursuant toG.S. 47C‑3‑112;
(9) Grant easements, leases, licenses, and concessions throughor over the common elements;
(10) Impose and receive any payments, fees, or charges for theuse, rental, or operation of the common elements other than limited commonelements described in subsections 47C‑2‑102(2) and (4) and forservices provided to unit owners;
(11) Impose charges for late payment of assessments, not to exceedthe greater of twenty dollars ($20.00) per month or ten percent (10%) of anyassessment installment unpaid and, after notice and an opportunity to be heard,suspend privileges or services provided by the association (except rights ofaccess to lots) during any period that assessments or other amounts due andowing to the association remain unpaid for a period of 30 days or longer, andlevy reasonable fines not to exceed one hundred dollars ($100.00) (G.S. 47C‑3‑107.1)for violations of the declaration, bylaws, and rules and regulations of theassociation.
(12) Impose reasonable charges for the preparation and recordationof amendments to the declaration, resale certificates required by G.S. 47C‑4‑109,or statements of unpaid assessments;
(13) Provide for the indemnification of and maintain liabilityinsurance for its officers, executive board, directors, employees and agents;
(14) Assign its right to future income, including the right toreceive common expense assessments.
(15) Exercise all other powers that may be exercised in this Stateby legal entities of the same types as the association; and
(16) Exercise any other powers necessary and proper for thegovernance and operation of the association.
(b) Notwithstanding subsection (a), the declaration may notimpose limitations on the power of the association to deal with the declarantthat are more restrictive than the limitations imposed on the power of theassociation to deal with other persons. (1985 (Reg. Sess.,1986), c. 877, s. 1; 2004‑109, s. 2; 2005‑422, ss. 10, 11.)