Or. Rev. Stat. 94.645

Adoption of annual budget

Official text ↗ Checked against the official source on 2 November 2026

At a glance

Budget adoption: At least annually

“The board of directors at least annually shall adopt a budget for the planned community.”
Notice required: Within 30 days after adopting annual budget

“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.”
Reserve funding: Include moneys for reserve account

“The budget shall include moneys to be allocated to the reserve account under ORS 94.595.”
No budget adopted: Last budget continues in effect

“If the board fails to adopt a budget, the last adopted annual budget shall continue in effect.”

Each fact is shown with the exact words of the statute it comes from. Your association's governing documents may also apply.

Official text

Copy retrieved from www.oregonlegislature.gov. Always rely on the official source for the current version.

Show the full text of Or. Rev. Stat. 94.645

94.645 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]

The same topic in other jurisdictions

British Columbia · Strata Property Act, s. 108 Special levy Illinois · 765 Ill. Comp. Stat. 605/9 Sharing of expenses - Lien for nonpayment Maryland · Md. Code, Real Prop. 11B-112.1 Late charge on delinquent assessments Maryland · Md. Code, Real Prop. 11B-117 Lot owner liability for assessments and charges Ontario · Condominium Act, 1998, s. 84 Contribution of owners Oregon · Or. Rev. Stat. 94.704 Assessment and payment of common expenses Pennsylvania · 68 Pa.C.S. 5314 Assessments for common expenses Texas · Tex. Prop. Code 209.0062 Alternative payment schedule for certain assessmen... Virginia · Va. Code 55.1-1824 Assessments; late fees Virginia · Va. Code 55.1-1826 Annual budget; reserve study; reserves for capital... Washington · Wash. Rev. Code 64.90.525 Budgets; assessments; special assessments Compare assessments & dues laws side by side →

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