Definition “maintenance account” means an account required to be opened and maintained by a developer, joint management body, management corporation or subsidiary management corporation under section 10, 23, 50, 60 or 66, as the case may be;“Charges” means any money collected…
Duties and powers of management corporation (MC)
Duties to establish maintenance account of the management corporation; to establish sinking fund account of the management corporation; to properly maintain and manage the subdivided building or land and the common property and keep it in a state of good and…
Duties and powers of joint management body (JMB)
Duties to establish maintenance account; to establish sinking fund account; to properly maintain and manage the building or land intended for subdivision into parcels and the common property, and keep it in a state of good and serviceable repair; to determine…
Duties and powers of developer during developer’s management period (Developer)
Duties to establish maintenance account; to establish sinking fund account; to determine and impose the Charges to be deposited into the maintenance account; to determine and impose the contribution to the sinking fund to be deposited into the sinking fund account;…