CHAPTER 36B. UNIFORM COMMON INTEREST OWNERSHIP ACT.

ARTICLE 3. MANAGEMENT OF THE COMMON INTEREST COMMUNITY.

§36B-3-114. Surplus funds.

Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves must be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.

Bill History For §36B-3-114

1986 Regular Session
SB102
1984 Regular Session
SB171
1980 Regular Session
HB788