MCIOA — Board of Directors, Officers and Declarant Control

Office of the Revisor of Statutes Search Minnesota Statutes About Minnesota Statutes 2025 Statutes New, Amended or Repealed 2025 Table of Chapters 2025 Statutes Topics (Index) Chapter 515B Table of Sections Full Chapter Text Version List Section 515B.3-103 Version List Recent History 2026 515B.3-103 Amended 2026 c 82 s 4 2026 515B.3-103 Amended 2026 c 61 s 18 2024 515B.3-103 Amended 2024 c 96 art 2 s 12 2010 515B.3-103 Amended 2010 c 267 art 3 s 3 2005 515B.3-103 Amended 2005 c 121 s 23 1999 515B.3-103 Amended 1999 c 11 art 2 s 17 This section has been affected by law enacted during the 2026 Regular Session. More info... 515B.3-103 has been amended by Chapter 61, Section 18 515B.3-103 has been amended by Chapter 82, Section 4 Note: see session law sections for effective dates. 515B.3-103 BOARD OF DIRECTORS, OFFICERS AND DECLARANT CONTROL. (a) An association shall be governed by a board of directors whose appointment or election shall occur no later than the date of creation of the common interest community and shall be reflected in the association's records. Except as expressly prohibited by the declaration, the articles of incorporation, bylaws, subsection (b), or other provisions of this chapter, the board may act in all instances on behalf of the association. In the performance of their duties, the officers and directors are required to exercise (i) if appointed by the declarant, the care required of fiduciaries of the unit owners and (ii) if elected by the unit owners, the care required of a director by section 302A.251 , 308B.455 , 308C.455 , or 317A.251 , as applicable. The officers and directors appointed by the declarant shall have a duty to fulfill, and to cause the association to fulfill, their respective obligations under the declaration, bylaws, articles of incorporation, and this chapter and to enforce the provisions of the declaration, bylaws, articles of incorporation, and this chapter against all unit owners, including the declarant and its affiliates, in a uniform and fair manner. The standards of conduct for officers and directors set forth in this subsection shall also apply to the officers and directors of master associations in the exercise of their duties on behalf of the master association. (b) The board may not act unilaterally to amend the declaration, to terminate the common interest community, to elect directors to the board, or to determine the qualifications, powers and duties, or terms of office of directors, but the board may fill vacancies in its membership created other than by removal by the vote of the association members for the unexpired portion of any term. (c) The declaration may provide for a period of declarant control of the association, during which a declarant, or persons designated by the declarant, may appoint and remove the officers and directors of the association. The period of declarant control begins on the date of creation of the common interest community and terminates upon the earliest of the following events: (i) five years after …

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