If entered into before the officers elected by the unit owners under s. 703.10 take office, any management contract, employment contract, lease of recreational or parking areas or facilities, any contract or lease to which a declarant or any person affiliated with the declarant is a party and any contract or lease which is not bona fide or which was not commercially reasonable to unit owners when entered into under the circumstances then prevailing, may be terminated by the association or its executive board at any time without penalty upon not less than 90 days’ notice to the other party thereto. This section does not apply to any lease the termination of which would terminate the condominium.
Wis. Stat. § 703.35
Termination of contracts and leases
Known as the Condominium Ownership Act
The act spans §§ 703–703 (56 sections).
Applied in 1 court decision — leading case 2006 WI App 167 - Hunt Club Condominiums, Inc. v. Mac-Gray Services, Inc. (2006)
Most recently applied in 2006 WI App 167 - Hunt Club Condominiums, Inc. v. Mac-Gray Services, Inc. (July 2006)
1977 c. 407
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.