A. Recording of declaration. At the time of recording the final plat, all applicants who submit a subdivision of air space to the Planning Commission shall record a horizontal property regime as provided for by law.
B. Management by Council of Co-Owners—rules and regulations.
1. The Council of Co-Owners shall be required to make provisions for maintenance of common elements, limited common elements where applicable, assessment of expenses, payment of losses, division of profits, disposition of hazard insurance proceeds, and similar matters, and shall be required to adopt by-laws, rules, and regulations.
2. The by-laws, rules and regulations, as amended, shall be reduced to writing and be available to every owner of any interest in the horizontal property regime.
