Associations of unit owners (“AUO”), as well as other associations and corporations regulated by the Civil Code, are in connection with the new Civil Code obliged to adapt their foundation deeds or statutes to the new legislation.
Corporations (associations and AUOs) have 3 years from the effectiveness of the law for such adaptation, i.e. till the end of the year 2016. However, in case the name of the corporation (association) contravenes the law (e.g. the name of the AUO does not contain the words „association of owners“ or specification of the house, in which it exists) it is the duty of such corporation to change such name within 2 years from effectiveness of the Civil Code, i.e. till the end of year 2015.
If you consider to use our legal advisory in this regards or should you have any queries, please do not hesitate to contact us, we will be pleased to assist you
