Law of Ownership Subdivision and Management of Real Estate Units

1. The manager of a jointly-owned real estate shall be from among the owners or others. The charter shall determine his appointment requirements and work procedures. 2. Subject to the powers of the general assembly, the charter shall determine the powers of the manager of a jointly-owned real estate. The owners association shall be bound by any action taken by the manager in its name and within its purposes. 3. The manager may, in writing, delegate certain powers to others to carry out one or more of his duties. 4. The owner who constructs a jointly-owned real estate may solely appoint the manager, provided that he: a) maintains ownership of at least 10% of the subdivided real estate units in the jointly-owned real estate; and b) complies with the rules specified in the Regulations. 5. The manager shall be liable before the owners association or the owners for any damage arising from his violation of the provisions of this Law or the charter. If there are multiple managers and such damage arises due to a unanimous decision issued thereby, they shall be jointly liable. If a decision is issued by majority vote, the objecting managers shall not be held liable, provided their objection is recorded in the minutes of the meeting in which such decision is passed. If a manager fails to attend such meeting, he shall not be exempt from liability, unless he establishes that he was unaware of the decision or was unable to object to such decision after becoming aware Law of Ownership, Subdivision, and Management of Real Estate Units thereof.