(1) Unless provided in the declaration, the bylaws shall specify:
(a) The insurance an owner must obtain, if any;
(b) The insurance, if any, an individual owner is precluded from obtaining;
(c) The responsibility for payment of the amount of the deductible in an association insurance policy; and
(d) Whether or not the insurance coverage obtained and maintained by the board of directors may be brought into contribution with insurance bought by owners or their mortgagees.
(2) The declaration or bylaws may provide that the responsibility for payment of the amount of the deductible may be prescribed by resolution adopted by the board of directors. [1981 c.782 §54; 1999 c.677 §23; 2007 c.409 §16]Section: Previous 94.667 94.670 94.673 94.675 94.676 94.677 94.680 94.685 94.690 94.695 94.700 94.704 94.705 94.709 94.710 Next
Last modified: August 7, 2008