M.G.L. c. 183A, §10
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Condominium Organization Powers and Duties
Grants the organization of unit owners powers to manage and maintain common areas, obtain insurance, conduct litigation, impose assessments and fines. Requires maintenance of complete financial records available for reasonable inspection. Mandates fidelity insurance for condominiums with more than 10 units (at least one-fourth of annual assessments). Requires independent CPA review for condominiums with 50 or more units. Record retention period of at least 7 years.
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Governance
| Ref | Requirement |
|---|---|
| Grants the organization of unit owners powers to manage and maintain common areas, obtain insurance, conduct litigation, impose assessments and fines. | |
| Requires maintenance of complete financial records available for reasonable inspection. | |
| Mandates fidelity insurance for condominiums with more than 10 units (at least one-fourth of annual assessments). | |
| Requires independent CPA review for condominiums with 50 or more units. |
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Legal references last verified April 15, 2026.
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