(b) If the owners in a Class I or Class II planned community elect to be subject to additional provisions of ORS 94.550 to 94.783, the board of directors of the association shall cause a notice of planned community to be prepared, executed and recorded in accordance with subsection (3) of this section. This paragraph does not apply if a statement of the election was included in the notice of planned community required or permitted under ORS 94.574.
(2)(a) The owners in a Class III planned community created before January 1, 2002, may elect to be subject to provisions of ORS 94.550 to 94.783 upon compliance with the applicable procedures in ORS 94.572, 94.573 or 94.574.
(b) If the owners in a Class III planned community elect to be subject to provisions of ORS 94.550 to 94.783, the board of directors of the association shall cause a notice of planned community to be prepared, executed and recorded in accordance with subsection (3) of this section.
(3)(a) The notice of planned community required or permitted by ORS 94.574 must be:
(A) Titled "Notice of Planned Community under ORS 94.574";
(B) Executed by the president and secretary of the association; and
(C) Recorded in the office of the recording officer of every county in which the property is located.
(b) The notice of planned community shall include:
(A) The name of the planned community and association as identified in the recorded declaration and any covenants, conditions and restrictions or other governing document, and, if different, the current name of the association;
(B) A list of the properties, described as required for recordation in ORS 93.600, within the jurisdiction of the association;
(C) Information identifying the recorded declaration and any covenants, conditions and restrictions or other governing documents, and a reference to the recording index numbers and date of recording of the governing documents;
(D) A statement that the property described in accordance with subparagraph (B) of this paragraph is subject to specific provisions of the Oregon Planned Community Act;
(E) A reference to the specific provisions of the Oregon Planned Community Act that apply to the subject property and a reference to the subsection of this section under which the application is made; and
(F) If an association is formed under ORS 94.574, a statement to that effect.
(4) The board of directors of an association not otherwise required to cause a notice of planned community to be prepared and recorded under ORS 94.574 may cause a notice of planned community to be prepared, executed and recorded as provided in subsection (3) of this section. [2017 c.423 §12]