(b) Within five years after the recording of bylaws recorded on or after October 3, 1989, an amendment to the bylaws must be approved by the Real Estate Commissioner.
(2) Except as provided by subsection (4) of this section, notwithstanding a requirement in the bylaws that any amendment to the bylaws be approved by the commissioner, amendments adopted more than five years after recording the initial bylaws do not require approval by the commissioner.
(3) Bylaws that are restated under this chapter on or after July 14, 2003, and within five years of the recording of the bylaws must be approved by the commissioner.
(4) Bylaws recorded on or after January 1, 2020, may require that any or all amendments to the bylaws or restatements of the bylaws under ORS 100.411 be approved by the commissioner under this section.
(5) The person submitting amended bylaws or restated bylaws for approval shall submit a filing in accordance with ORS 100.668 and the fee required by ORS 100.670.
(6) Upon compliance with subsection (5) of this section, the commissioner shall approve:
(a) A bylaw amendment that complies with ORS 100.410 and 100.415 and this section; and
(b) Restated bylaws that comply with ORS 100.411 and this section.
(7) If the amended bylaw or restated bylaws approved by the commissioner under this section are not recorded as required in ORS 100.410 or 100.411 within one year from the date of approval by the commissioner, the approval expires and the amended bylaw or restated bylaws must be resubmitted for approval. The commissioner’s approval must set forth the date on which the approval expires.
(8) An association of unit owners may request that the commissioner approve a bylaw amendment or restated bylaws under ORS 100.411 for which approval is not required under this section, subject to subsections (5) and (7) of this section.
(9) The association shall submit a copy of the recorded bylaw amendment or restated bylaws to the commissioner. [2019 c.69 §13]
Note: See note under 100.411.