NMSA §47-7C-2
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Condominium Act — Powers of Unit Owners' Association
Association may adopt and amend budgets for revenues, expenditures, and reserves; collect assessments; hire managing agents; make contracts; regulate common elements; commence litigation. This is the statutory basis for reserve budgeting (permissive, not mandatory).
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Governance
| Ref | Requirement |
|---|---|
| Association may adopt and amend budgets for revenues, expenditures, and reserves; collect assessments; hire managing agents; make contracts; regulate common elements; commence litigation. |
Reserves
| Ref | Requirement |
|---|---|
| This is the statutory basis for reserve budgeting (permissive, not mandatory). |
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