Designation of managing entity
- • duties and powers of entity
(1) Before the closing of the first timeshare sale the developer shall designate a managing entity, which may be the developer, the owners association, a trust, a management firm or an individual.
(2) The managing entity shall act as a fiduciary to each timeshare owner.
(3) The managing entity shall be responsible for:
(a) Managing and maintaining all accommodations and facilities of the timeshare plan.
(b) Collecting any assessment for common expenses.
(c) Providing each owner with an itemized annual budget including all receipts and expenditures.
(d) Maintaining all books and records concerning the timeshare plan on the timeshare property and making the books and records available for inspection by an owner.
(e) Making the books and records of the timeshare plan available for inspection by the Real Estate Agency.
(f) Scheduling occupancy of accommodations if each owner does not acquire a specific timeshare period so that each owner receives the use of the timeshare plans accommodations and facilities to which the owner is entitled.
(g) Performing all other duties necessary to maintain the accommodations or facilities as provided in any management contract or other agreement.
(h) Acting as agent for the owners for purposes of real property taxation, including collection and payment of real property taxes.
(i) Hiring and supervising an employee or agent to perform a function described in paragraphs (a) to (h) of this subsection.
(4) After giving the managing entity reasonable notice, a timeshare owner may require the managing entity to provide the names and addresses of all other timeshare owners in the timeshare plan. The managing entity may require the payment of a reasonable fee for reproduction costs.
(5) Unless expressly prohibited by the timeshare instrument, the managing entity shall have the authority to execute, acknowledge, deliver and record on behalf of the timeshare owners, an easement, right of way, license and any other similar interest affecting the timeshare property if the interest is beneficial and not materially detrimental to the timeshare plan.
(6) The instrument granting an interest under subsection (5) of this section shall be executed by the managing entity and acknowledged in the manner provided for acknowledgment of deeds under ORS 93.410 (Execution and acknowledgment of deeds).
(7) For the purpose of transferring or otherwise disposing of all or any portion of the accommodations and facilities in the timeshare plan upon termination of the plan, the managing entity shall be the attorney-in-fact for each owner. Any transfer or disposition will be effective if the managing entity executes and acknowledges the written transfer instrument. [1983 c.530 §9; 1987 c.424 §5; 2003 c.14 §38]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information