Powers and Duties of the Manager of a Condominium Juristic Person

Nov 06, 2019 | view 53,443

Powers and Duties of the Manager of a Condominium Juristic Person

Meeting Organization

1. Organize the first general meeting within 6 months from the date of registration of the condominium juristic person.

If not conducted, a fine of up to five thousand baht will be imposed.

2. Organize extraordinary meetings when deemed necessary to seek opinions from co-owners.

Actions Regarding Expenses According to Section 18

1. Issue a certificate of debt clearance to co-owners who have no outstanding expenses under Section 18 within 15 days from the date of receiving the request.

If not conducted, a fine of up to ten thousand baht and an additional fine of up to five hundred baht per day will be imposed for the duration of non-compliance.

2. File a lawsuit to enforce payment from co-owners who have outstanding expenses under Section 18 for 6 months or more.

3. Submit the list of outstanding expenses under Section 18 to the land officer to secure the right to receive payment before other debts.

Preparation of Income-Expense Accounts

1. Prepare monthly income-expense accounts within 15 days from the end of the month and announce them to co-owners continuously for 15 days.

If not conducted, a fine of up to fifty thousand baht and an additional fine of up to five hundred baht per day will be imposed for the duration of non-compliance.

2. Prepare a balance sheet showing the assets and liabilities of the condominium juristic person, along with income-expense accounts that must be audited for presentation at the general meeting.

3. Prepare an annual report showing operational results for the general meeting, along with the balance sheet, and provide copies of these documents to co-owners at least 7 days before the scheduled general meeting.

4. Keep the annual report showing operational results and the balance sheet, along with the regulations, at the office of the condominium juristic person for inspection by officials or co-owners.

(According to items 2-4) If the condominium juristic person fails to act, a fine of up to ten thousand baht will be imposed, which the manager must also bear unless proven not to have participated in the wrongdoing.

General Administration

1. Act as a representative of the condominium juristic person in managing and maintaining common property.

2. Ensure that co-owners comply with laws and regulations.

3. Provide security or order within the condominium.

4. Perform duties at the office of the condominium juristic person for the duration specified in the regulations.

5. Register within 30 days from the date of the meeting's resolution if co-owners decide to register under the Condominium Act.

If not conducted within the specified time, a fine of up to five thousand baht will be imposed.

Qualifications of the Manager of the Condominium Juristic Person

The manager of the condominium juristic person can be either an individual or a juristic entity. In the case of a juristic entity as the manager, an individual must be appointed as the representative manager. The appointment of the manager must be approved by a vote of at least one-fourth of all co-owners, and the manager must be at least twenty-five years old and must not have any disqualifying characteristics as follows:

1. Be a bankrupt individual.

2. Be incompetent or quasi-incompetent.

3. Have been dismissed, discharged, or removed from public or private organizations for corruption.

4. Have been sentenced to imprisonment by a final judgment, except for minor offenses or negligence.

5. Have been removed from the position of manager due to corruption or misconduct.

6. Have outstanding debts for expenses under Section 18. In the case where the manager is a juristic entity, the representative must also possess qualifications and not have disqualifying characteristics according to items 1-6.