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North Carolina General Statutes Chapter 47F. North Carolina Planned Community Act § 47F-3-101. Organization of owners' association

Current as of January 01, 2023 | Updated by Findlaw Staff

A lot owners' association shall be incorporated no later than the date the first lot in the planned community is conveyed. The membership of the association at all times shall consist exclusively of all the lot owners or, following termination of the planned community, of all persons entitled to distributions of proceeds under G.S. 47F-2-118. Every association created after the effective date of this Chapter shall be organized as a nonprofit corporation.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 47F. North Carolina Planned Community Act § 47F-3-101. Organization of owners' association - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-47f-north-carolina-planned-community-act/nc-gen-st-sect-47f-3-101/

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