RSA 356-B:3 Definitions.

In this chapter:
I. "Board of directors" means an executive and administrative entity, by whatever name denominated, designated in the condominium instruments as the governing body of the unit owners' association.
II. "Common area" or "common areas" means all portions of the condominium other than the units.
III. "Common expenses" means all expenditures lawfully made or incurred by or on behalf of the unit owners' association, together with all funds lawfully assessed for the creation and/or maintenance of reserves pursuant to the provisions of the condominium instruments; "future common expenses" shall mean common expenses for which assessments are not yet due and payable.
IV. "Common profits" means all income collected or accrued by or on behalf of the unit