(a) If the declaration provides that any of the powers described in section 3-102 of this title may be exercised by or may be delegated to a corporation or association on behalf of one or more common interest communities or for the benefit of the unit owners of one or more common interest communities, the provisions of this title applicable to unit owners' associations apply to that corporation or unincorporated association, except as modified by this section.

(b) Unless a master association is acting in the capacity of an association described in section 3-101 of this title, it may exercise the powers provided in subdivision 3-102(a)(2) of this title only to the extent permitted in the declaration or described in the delegations of power of those common interest communities to the master association.

(c) If the declaration provides that the executive board may delegate certain powers to a master association, the members of the executive board shall not be liable for acts or omissions of the master association with respect to those powers after the delegation.

(d) The rights and responsibilities of unit owners with respect to the unit owners' association as provided in sections 3-103, 3-106, and 3-109 of this title apply only to the conduct of the affairs of a master association in regard to those persons who elect the board of a master association, whether or not those persons are unit owners.

(e) Even if a master association is also an association under section 3-101 of this title, the instrument creating the master association and the declaration may provide that the executive board of the master association shall be elected after the period of declarant control in any one of the following ways: