Yes. You elected these people to manage the affairs of the association, so you wouldn't have to. They are responsible to ensure there are enough funds for day to day operations (garbage, lawn care, snow removal, etc), insurance, maintenance (driveway sealing, painting,etc) repairs (roofing, siding etc), improvements and for planning 5 10 and 15 years out for all of these items. These people are your elected officials for the small nation known as your condominium complex. Just as any President can take our nation to war without voter approval so can the HOA Board create or change policy without owner approval SO LONG AS IT DOESN'T CHANGE THE Condominium BYLAWS. Bylaws can usually only be amended with 2/3rds majority vote of the total owners, they must be recorded in the town/city offices, and are legal documents. The Rules and Regs are not in the Bylaws so they can be readily amended by the board of directors although their mention in the bylaws makes them legally binding (i.e. you have to follow the rules and regulations adopted by the board of directors unless you can get enough unit onwers to vote out the rule/reg at a specal meeting or annual meeting). So if the Board of Directors are raising assoc. fees (actual $ amount of assoc. fees are not in by-laws) creating assesments (one time billing to each unit owner for repairs/improvements), instituting fines for late payments of dues, or changing/creating rules and regulations the board has the right to do so based on the simple fact that you elected them to do just that. But if the board is heavy handed and insensitive, the owners (with a signed petition of some % of unit owners (this % is usually bylaw specific)) can call a meeting and vote (2/3rds majority) to rescind the boards action.

The answer is yes. However, please check your declaration/bylaws or CCRs. You elect the Board and the Board has the authority to create Rules and Regulations. However these R&R can not conflict with your governing documents.