Community Land Management Act 2021
84Association to set contributions to administrative and capital works funds
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84 Association to set contributions to administrative and capital works funds
84 Association to set contributions to administrative and capital works funds
(1) The association must determine the amounts to be levied as a contribution to the administrative fund and the capital works fund to raise the amounts estimated as needing to be credited to those funds.
(2) The determination must be made at the same meeting at which those estimated amounts are determined.
(3) The association must levy on each member the contribution determined.
(4) If the association is subsequently faced with other expenses it cannot at once meet from either fund, it must levy on each member a contribution to the administrative fund or capital works fund, determined at a meeting of the association, in order to meet the expenses.
(5) A contribution is, if an association so determines, payable by the regular periodic instalments specified in the determination setting the amount of the contribution.