Oregon Revised Statutes Chapter 94 § 94.622 — Obligations and liabilities arising from transfer of special declarant rights

Obligations and liabilities arising from transfer of special declarant rights. (1) As used in this section, “affiliate” means any person who controls a transferor or successor declarant, is controlled by a transferor or successor declarant or is under common control with a transferor or successor declarant. (2) A person controls or is controlled by a transferor or successor declarant if the person: (a) Is a general partner, officer, director or employee; (b) Directly or indirectly, or acting in concert with one or more other persons or through one or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing more than 20 percent of the voting interests of the transferor or successor declarant; (c) Controls in any manner the election of a majority of the members of the board of directors; or (d) Has contributed more than 20 percent of the capital of the transferor or successor declarant. (3) Upon the transfer of any special declarant right, the liabilities and obligations of a transferor are as follows: (a) A transferor is not relieved of any obligation or liability arising before the transfer. Lack of privity does not deprive any owner of standing to bring an action to enforce any obligation of the transferor. (b) If a transferor retains any special declarant right, or if a successor declarant is an affiliate of the transferor, the transferor is subject to liability for all obligations and liabilities imposed on a declarant by the provisions of ORS