Executive board members and officers
- Statute:
- North Carolina §47C-3-103 · Chapter 47C (North Carolina Condominium Act)
- Topic:
- Governance · Board, budget ratification, declarant control
- Applies to:
- Condo associations
Officers and board members stand in a fiduciary relationship to the association and the owners, and they must meet the Chapter 55A director and officer standards. Within 30 days after the board adopts a proposed budget, it must send every owner a summary and set a ratification meeting 10 to 60 days after mailing. No quorum is required; the budget is ratified unless a majority of all unit owners rejects it. Declarant control ends no later than 120 days after 75 percent of the units are conveyed, two years after the declarant stops offering units, or two years after the last exercise of a right to add units — whichever is earlier. Owners may remove a non-declarant board member by majority of those present at a quorate meeting. Also applies to pre-1986 condos.
📄 Read the official text at ncleg.gov →
How SoShiny helps with Executive board members and officers
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does North Carolina §47C-3-103 require?
- Officers and board members stand in a fiduciary relationship to the association and the owners, and they must meet the Chapter 55A director and officer standards. Within 30 days after the board adopts a proposed budget, it must send every owner a summary and set a ratification meeting 10 to 60 days after mailing. No quorum is required; the budget is ratified unless a majority of all unit owners rejects it.
- Who does North Carolina §47C-3-103 apply to?
- North Carolina §47C-3-103 applies to Condo associations in North Carolina.
- What happens if our condo doesn't comply with §47C-3-103?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for North Carolina community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of North Carolina §47C-3-103?
- The official text is published by the North Carolina General Assembly at ncleg.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Executive board members and officers?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of North Carolina §47C-3-103 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a North Carolina-licensed attorney. For the official statutory text, see the link above.
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