N.J. Admin. Code § 5:26-8.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:26-8.2 - Association powers and responsibilities

(a) Subject to the master deed, declaration of covenants, bylaws, and restrictions or other instruments of creation, the association may do all that it is legally entitled to do under the laws applicable to its form of organization. The executive board of the association may act in all instances on behalf of the association.

(b) The association shall discharge its powers in a manner that protects and furthers the health, safety and general welfare of the residents of the community.

(c) The association shall provide a fair and efficient procedure for the resolution of disputes between individual unit owners and the association, and between different unit owners, that shall be readily available as an alternative to litigation.

(d) All meetings of the association that are required by law to be open to all unit owners shall be held at a location within the development or, if there is no suitable meeting room within the development, at a suitable meeting room either elsewhere in the municipality in which the development is located or in an adjoining municipality.

1. A meeting room shall not be deemed to be suitable if it is not large enough to accommodate a reasonable number of unit owners who might wish to attend an open meeting.

(e) Members of the executive board appointed by the developer shall be liable as fiduciaries to the unit owners for their acts or omissions.

(f) During control of the executive board of the association by the developer, copies of the annual audit of association funds shall be available onsite for inspection and reproduction by owners and/or their authorized representatives.

N.J. Admin. Code § 5:26-8.2

Amended by 52 N.J.R. 1057(a), effective 5/18/2020