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§ 512. Expenses of administration and repair of common elements--Pro rata share--Exemptions

Oklahoma Statutes AnnotatedTitle 60. Property

Oklahoma Statutes Annotated
Title 60. Property (Refs & Annos)
Chapter 11. Unit Ownership Estate Act
60 Okl.St.Ann. § 512
§ 512. Expenses of administration and repair of common elements--Pro rata share--Exemptions
Currentness
(a) Except as provided in subsection (b) of this section the unit owners are bound to contribute pro rata, in the percentages computed according to Section 505 of this title, toward the expenses of administration and of maintenance and repair of the general common elements and, in proper cases, of the limited common elements, of the building and toward any other expense lawfully agreed upon.
(b) A declarant, by specific reservation, in the declaration as permitted by paragraph (j) of Section 514 of this title may:
1. Exempt unconstructed units within unconstructed buildings owned by declarant from payment of its pro rata share of the expenses described in subsection (a) of this section; and
2. Reserve the right to contribute less than its pro rata share of such expenses for unconstructed units within a completed building. Such expenses shall not be less than twenty percent (20%) of such pro rata share. The cost of administration and of maintenance, repair and insurance of any such unconstructed building and any such unconstructed unit shall be borne solely by the declarant until such time as such unconstructed unit and/or building has been completed. Upon such completion of a unit or building, the declarant's obligation for payment of the expenses described in this section shall be governed by subsection (a) of this section.
(c) Except as provided in subsection (b) of this section, no unit owner may exempt himself from contributing toward such expense by waiver of the use or enjoyment of the common elements or by abandonment of the unit belonging to him.

Credits

Laws 1963, c. 288, § 12; Laws 1985, c. 137, § 3, eff. Nov. 1, 1985.
60 Okl. St. Ann. § 512, OK ST T. 60 § 512
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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