Article 58. Collection of Debts Owed to the Association
(1) Unless the general meeting has resolved otherwise, the association’s administrator decides on the timing (but without exceeding the statute of limitations) and method of collecting debts owed by owners and other persons to the association.
(2) In the case of an owner who is a socially vulnerable person, the association’s administrator is entitled to negotiate and agree on a payment schedule for the debts (the arrears payment schedule), which, however, may not exceed 12 months from the date of signing the schedule.
(3) If an owner incurs overdue debts for a period of 3 months or more, or violates the arrears payment schedule, the association’s administrator is bound to initiate the debt collection. The general meeting may establish a different threshold that will trigger the administrator’s obligation to initiate a debt collection.
(4) An association may not establish, through its body’s resolutions, penalties or late interest fees for delay in payment by an owner or possessor to the association. In case of delay, the association charges the statutory late interest as per Article 942 of Civil Code No. 1107/2002. The association’s right to compensation for loss not covered by the statutory late interest remains unaffected.