Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.
(1) Legal entity. The affairs of every condominium shall be governed by an association that, even if unincorporated, is constituted a legal entity for all purposes. Except for matters reserved to the association members or unit owners by this chapter, the declaration, or the bylaws, all policy and operational decisions of the association, including interpretation of the condominium instruments, bylaws, rules, and other documents relating to the condominium or the association, shall be made by its board of directors. This subsection does not affect the deference accorded to, or the standard of review of, an action of the board of directors by a court.
(2) Organization of association.
(a) Establishment; organization.
703.15(2)(a)1. 1. Every declarant shall establish an association to govern the condominium not later than the date of the first conveyance of a unit to a purchaser. Except as provided in subd. 2., the declarant may organize the association only as a for-profit corporation; nonstock, nonprofit corporation; or unincorporated association. After the association is organized, the membership of the association shall at all times consist exclusively of all of the unit owners.
703.15(2)(a)2. 2. Beginning on March 13, 2022, a declarant may not organize an association as a for-profit corporation.
703.15(2)(a)3. 3. An association that exists on March 13, 2022, may not reorganize as a for-profit corporation.
(b) Power and responsibility prior to establishment. Until an association is established, a declarant has the power and responsibility to act in all instances where this chapter, any other provision of the law, or the declaration require action by the association or its officers.
(c) Declarant control.
703.15(2)(c)1. 1. Except as provided in par. (d), a declarant may authorize the declarant or persons designated by him or her to appoint and remove the officers of the association or to exercise the powers and responsibilities otherwise assigned by the declaration or this chapter to the association or its officers. A declaration may not authorize any declarant control of the association for a period exceeding the earlier of any of the following:
703.15(2)(c)1.a. a. Ten years in the case of an expandable condominium.
703.15(2)(c)1.b. b. Three years in the case of any other condominium.
703.15(2)(c)1.c. c. Thirty days after the conveyance of 75 percent of the common element interest to purchasers.
703.15(2)(c)2. 2. The period of declarant control begins on the date that the first condominium unit is conveyed by a declarant to any person other than the declarant. If there is any other unit owner other than a declarant, a declaration may not be amended to increase the scope or the period of the declarant control.
(d) Meeting to elect directors. Prior to the conveyance of 25 percent of the common element interest to purchasers, an association shall hold a meeting and the unit owners other than the declarant shall elect at least 25 percent of the directors of the executive board. Prior to the conveyance of 50 percent of the common element interest to purchasers, an association shall hold a meeting and the unit owners other than the declarant shall elect at least 33 1/3 percent of the directors of the executive board.
(e) Calculation of percentage. The calculation of the percentage of common element interest conveyed to purchasers under pars. (c) and (d) shall be based on the percentage of undivided interest appertaining to each unit which has been conveyed assuming that all the units to be completed are included in the condominium.
(f) Elections after expiration of declarant control. Not later than 45 days after the expiration of any period of declarant control, an association shall hold a meeting and the unit owners shall elect an executive board of at least 3 directors and officers of the association. The directors and officers shall take office upon election.
(3) Powers of the association.
(a) Powers. An association has the power to:
703.15(3)(a)1. 1. Adopt budgets for revenues, expenditures and reserves and levy and collect assessments for common expenses from unit owners;
703.15(3)(a)2. 2. Employ and dismiss employees and agents;
703.15(3)(a)3. 3. Sue on behalf of all unit owners; and
703.15(3)(a)4. 4. Exercise any other power conferred by the condominium instruments or bylaws.
(b) Conditional powers. Subject to any restrictions and limitations specified by the declaration, an association may:
703.15(3)(b)1. 1. Make contracts and incur liabilities, including borrowing funds in the name of the association in the manner specified in the bylaws under s.