The condominium association has extensive powers, and these powers are exercised by the board of Directors with only a few exceptions found in the Maine Condominium Act, Section 1603-103 (a) and (b). Board members are elected by unit owners for a term set in the Declaration or the Bylaws.
-is charged with maintenance, repair and replacement of the common elements.
-creates an annual budget for association expenditures, subject to ratification by owners (Maine Condominium Act only)
-collects assessments and enforces the declaration, bylaws and rules
-files an Annual Report each year to the Maine Secretary of State
-issues a Resale Certificate, providing basic information about the condominium and its finances, to prospective owners and others.
The board should generally know what the condominium laws and their documents say, or if they don’t, ask a manager or other knowledgeable source.
In Maine, condominium associations are subject to the Maine Nonprofit Corporation Act, found here. (some parts of the nonprofit corporation act are overridden by the Maine Condominium Act)
Conflicts of interest among members of the board of directors are governed by the Nonprofit Corporation Act. Condominium associations are classified as mutual benefit corporations, and the rules for conflicts of interest are found here.
At times an officer or director will view his or her position as a means of personal advantage. While not uncommon, such behavior erodes the spirit of the community and may get the offender in trouble.