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January 07, 2019

Bylaws


Word of the day

Bylaws

The regulations, rules, or laws adopted by a condominium owners’ association or corporation for the condominium’s management and operation. Bylaws cover such matters as the manner and selection of the board of directors and the duties and obligations of the corporation members. These self-imposed rules are a form of private law. Whereas a corporate resolution applies to a single act of the corporation, a bylaw is a continuing rule to be applied on all future occasions. Condominium bylaws are initially established by the developer and then are subject to change when the owners’ association takes over. The bylaws may be amended as noted in the original condominium declaration.

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