Nonresidential condominium or security filing
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(1) As used in this section, “nonresidential condominium” means a condominium in which all units are available exclusively for nonresidential uses or all units are to be offered for sale as a security under ORS 59.005 (Short title) to 59.505 (Provision of records to law enforcement and certain state agencies).
(2) A declarant that proposes to submit real property to the condominium form of ownership under this chapter as a nonresidential condominium shall file with the Real Estate Commissioner nonresidential condominium documentation described in subsection (3) of this section and pay the fee required by ORS 100.670 (Fees).
(3) The nonresidential condominium documentation must include:
(a) General information on the condominium, provided on a form prescribed and furnished by the commissioner, including:
(A) The name and address of the condominium and the county in which the condominium is located; and
(B) The name, address and telephone number of the declarant and any agent of the declarant.
(b) For approval of the declaration and bylaws, the documents and information required under ORS 100.668 (Documents and information included with filing) (2).
(c) For approval of a supplemental declaration, the documents and information required under ORS 100.668 (Documents and information included with filing) (3).
(4) After review of the nonresidential condominium documentation filed under this section, the commissioner may require the declarant to file additional documents and information related to the nonresidential condominium documentation that the commissioner deems necessary to review and approve the declaration and bylaws or a supplemental declaration under this chapter. [Formerly 94.356; 2019 c.69 §25]
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