AS §34.08.320

Common Interest Ownership Act — Powers of Association

Association may adopt and amend bylaws and rules; adopt and amend budgets for revenues, expenditures, and reserves; collect assessments; hire and discharge agents; initiate litigation; acquire property; impose late fees and fines; and provide indemnification for officers and board members. Limits on rulemaking regarding residential unit use.

Status Active
Effective Jan 1, 1986
Verified Apr 15, 2026
Source Official text
Statutory Text Verified Apr 17, 2026 · AK_OFFICIAL
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Association may adopt and amend bylaws and rules; adopt and amend budgets for revenues, expenditures, and reserves; collect assessments; hire and discharge agents; initiate litigation; acquire property; impose late fees and fines; and provide indemnification for officers and board members.
Limits on rulemaking regarding residential unit use.
Legal references last verified April 15, 2026. This content is educational and informational. It does not constitute legal advice. Consult a licensed attorney in your state for legal guidance specific to your situation.
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