§514B-144 

Association fiscal matters; assessments for common expenses.  (a)  Assessments shall be made based on a

budget adopted and distributed or made available to unit owners at least

annually by the board.

     (b)  Except

for assessments under subsections (c), (d), and (e), all common expenses shall

be assessed against all the units in accordance with the allocations under

section 514B‑41.  Any past due common expense assessment or installment

thereof shall bear interest at the rate established by the association,

provided that the rate shall not exceed eighteen per cent per year.

     (c) 

Assessments to pay a judgment against the association under section 514B‑147(a)

may be made only against the units in the condominium at the time the judgment

was entered, in proportion to their common expense allocations under section

514B‑41.

     (d)  If any

common expense is caused by the misconduct of any unit owner, the association

may assess that expense exclusively against such owner's unit.

     (e)  If

common expense liabilities are reallocated, common expense assessments and any

installment thereof not yet due shall be recalculated in accordance with the

reallocated common expense liabilities.

     (f)

 In the case of a voluntary conveyance, the grantee of a unit shall be

jointly and severally liable with the grantor for all unpaid assessments

against the latter for the grantor's share of the common expenses up to the

time of the grant or conveyance, without prejudice to the grantee's right to

recover from the grantor the amounts paid by the grantee therefor.  Any such

grantor or grantee is, however, entitled to a statement from the board, either

directly or through its managing agent or resident manager, setting forth the

amount of the unpaid assessments against the grantor, and except as to the

amount of subsequently dishonored checks mentioned in such statement as having

been received within the thirty-day period immediately preceding the date of

such statement, the grantee is not liable for, nor is the unit conveyed subject

to a lien for, any unpaid assessments against the grantor in excess of the

amount therein set forth.

     (g)  No unit owner may exempt the unit

owner from liability for the unit owner's contribution towards the common

expenses by waiver of the use or enjoyment of any of the common elements or by

abandonment of the unit owner's unit.  Subject to such terms and conditions as

may be specified in the declaration or bylaws, any unit owner, by conveying his

or her unit and common interest to the association on behalf of all other unit

owners, may exempt himself or herself from common expenses thereafter accruing.

     (h)  The board, either directly or through its managing agent or

resident manager, shall notify the unit owners in writing of maintenance fee

increases at least thirty days prior to such an increase. [L 2004, c 164, pt of

§2; am L 2006, c 273, §26]