KRS 381.9165: Organization of unit owners' association.

Unless stated otherwise in the declaration, a unit owners' association shall be organized

no later than the date the first unit in the condominium is conveyed. The membership of

the association shall at all times consist exclusively of all the unit owners or, following

termination of the condominium, of all former unit owners entitled to distributions of

proceeds under KRS 381.9157, or their heirs, successors, or assigns. The association shall

be organized as a for-profit or nonprofit corporation or as an unincorporated association.