1. Community Associations. In community associations, a board is required to prepare and adopt a budget at least annually, and to present the adopted budget to the association members at a meeting of the members. The law does not require a budget to be adopted or approved by the association members. The budget is adopted and approved by the board. However, the owners may disapprove a budget, or veto just the reserve fund line item in the budget (discussed in paragraph 3 below) if, within 45 days after the association meeting at which the board presents the adopted budget, owners holding at least 51% of the total voting rights (not just 51% of those at the meeting) vote to disapprove the budget at a special meeting called for that purpose. Thus, such a vote of disapproval may not be conducted at the meeting where the budget is presented. The vote can only occur at a special meeting called for that purpose. See Utah Code Section §§ 57-8a-215 and 57-8a-211(7).
2. Condo Associations. The Condo Act does
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(For reference: 57-8 is the Condo Act, 57-8a is the Community Association Act, 16-6a is the Nonprofit Act)