KRS § 381.9169 — KY Code / Title XXXII / Chapter 381 / Section 381.9169
381.9169 Executive board members and officers
Status: in_force

381.9169 Executive board members and officers.

(1) Except as provided in the declaration, the bylaws, or subsection (2) of this section,

the executive board may act in all instances on behalf of the association. In the

performance of their duties, the officers and members of the executive board shall

act in accordance with KRS 381.9170.

(2) The executive board shall not act on behalf of the association to amend the

declaration, to terminate the condominium, or to elect members of the executive

board or determine the qualifications, powers, and duties, or terms of office of

executive board members, but the executive board may fill vacancies in its

membership for the unexpired portion of any term.

(3) If the executive board adopts a budget for the condominium, the board shall:

(a) Provide a summary of the budget to all unit owners within thirty (30) days

after the adoption; and

(b) If the adopted budget contains an increase of greater than fifteen percent

(15%) from the previous year's budget, set a date for a meeting of the unit

owners to consider ratification of the budget, which meeting shall not be less

than fourteen (14) days nor more than thirty (30) days after providing the

summary. The budget shall be deemed ratified, whether or not a quorum is

present, unless at that meeting a majority of all the unit owners, or any larger

vote specified in the declaration, reject the budget. If the budget is rejected,

the periodic budget last ratified by the unit owners shall be continued until

such time as a subsequent budget is adopted by the executive board in

conformity with this subsection.

(4) Except as provided in subsection (5) of this section, the declaration may provide for

a period of declarant control of the association, during which period a declarant, or

persons designated by him or her, may appoint and remove the officers and

members of the executive board. Regardless of the period provided in the

declaration, a period of declarant control terminates no later than the earlier of:

(a) Sixty (60) days after conveyance of seventy-five percent (75%) of the units

which may be created to unit owners other than a declarant;

(b) Two (2) years after all declarants have ceased to offer units for sale in the

ordinary course of business;

(c) Two (2) years after any development right to add new units was last exercised;

or

(d) Seven (7) years after the first unit was conveyed to a unit owner other than a

declarant.

A declarant may voluntarily surrender the right to appoint and remove officers and

members of the executive board before termination of that period, but in that event

he or she may require, for the duration of the period of declarant control, that

specified actions of the association or executive board, as described in a recorded

instrument executed by the declarant, be approved by the declarant before they

become effective.

(5) Not later than sixty (60) days after conveyance of twenty-five percent (25%) of the

units which may be created to unit owners other than a declarant, at least one (1)

member and not less than twenty-five percent (25%) of the members of the

executive board shall be elected by unit owners other than the declarant. Not later

than sixty (60) days after conveyance of fifty percent (50%) of the units which may

be created to unit owners other than a declarant, not less than thirty-three and one-

third percent (33-1/3%) of the members of the executive board shall be elected by

unit owners other than the declarant.

(6) Not later than the termination of any period of declarant control, the unit owners

shall elect an executive board of at least three (3) members, a majority of whom

shall be unit owners or owners of equity interests in units. The executive board shall

elect the officers. The executive board members and officers shall take office upon

election.

(7) Any provision of the declaration or bylaws to the contrary notwithstanding, the unit

owners, by a two-thirds (2/3) vote of all persons present and entitled to vote at any

meeting of the unit owners at which a quorum is present, may remove any member

of the executive board with or without cause, other than a member appointed by the

declarant.