Laserfiche WebLink
~ <br />(b) Establishment and maintenance of replacemen reserve <br />accounts and other reserves which are requi ed to be <br />maintained by the Oregon Condominium Act or th se Bylaws <br />and such other reserve accounts as are permitte by these <br />Bylaws; <br />(c) Designation and collection of monthly assess ents from <br />the owners, in accordance with these By aws, the <br />Declaration and the Oregon Condominium Act; <br />(d) Establishment of a budget and payment of a 1 common <br />expenses of the Association consistent ther with and <br />subject thereto, and institution and mainten nce of a <br />voucher system for such payment, which shall require a <br />sufficient number of signatories thereon a may be <br />reasonably necessary to prevent any misuse of A sociation <br />funds; <br />~ <br />(e) Obtaining and maintaining insurance policies a d payment <br />of premiums therefor out of the common expens funds in <br />respect to both the common elements and individ al units, <br />as more specifically provided in Article VIII of these <br />Bylaws; <br />(f) Designation and dismissal of the personnel nec ssary for <br />the maintenance and operation of the gener 1 common <br />elements; I <br />(g) Causing the preparation and distribution f annual <br />financial statements of the Association to ea h of the <br />unit owners as more specifically provided in ar icle XII; <br />(h) Adoption and amendment of administrative ules and <br />regulations governing the details of operation nd use of <br />the common elements. Provided, however, any uch rules <br />or regulations shall always be subject to res ission or <br />amendment by the Association upon unanimous vote of <br />owners present at any properly called meeting; and <br />(i) Causing the Association to comply with OR <br />relating to maintenance of documents deliver <br />Association by the Declarant and mainter <br />distribution of financial statements. Also t~ <br />copies suitable for duplication of the <br />Declaration, Bylaws, Association Rules and R~ <br />and any amendments thereto, the most rece <br />financial statement and the current operating <br />the Association. <br />4. MANAGEMENT AGENT. The Board of Directors ma~ <br />management agent, to be compensated in an amount establisl <br />~ 100.480 <br />~d to the <br />ance and <br />maintain <br />ollowing: <br />gulations <br />it annual <br />budget of <br />employ a <br />d by the <br />~ BYLAWS OF COURTHOUSE SQUARE CONDOMINIUM <br />PAGE - 5 <br />