Oregon Code § 94.645·Enacted ·Last updated March 01, 2026
Statute Text
Adoption of annual budget.
(1) The board of directors at least annually shall adopt a budget for the
planned community.
(2) The budget
shall include moneys to be allocated to the reserve account under ORS 94.595.
(3) Within 30
days after adopting the annual budget for the planned community, the board of
directors shall provide a summary of the budget to all owners.
(4) If the board
fails to adopt a budget, the last adopted annual budget shall continue in
effect. [1981 c.782 §39; 1999 c.677 §16; 2007 c.409 §8a]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 94.645
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
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