Unless otherwise provided in the declaration, surplus funds of the association remaining after payment of or provision for common expenses and prepayment of reserves must be paid to the unit owners in proportion to common expense liabilities or credited to them to reduce future common expense assessments.
Structure Alaska Statutes
Chapter 08. Common Interest Ownership
Article 3. Management of the Common Interest Community.
Sec. 34.08.310. Organization of unit owners' association.
Sec. 34.08.320. Powers of unit owners' association.
Sec. 34.08.330. Executive board members and officers.
Sec. 34.08.340. Transfer of association control.
Sec. 34.08.350. Transfer of special declarant rights.
Sec. 34.08.360. Termination of contracts and leases of declarant.
Sec. 34.08.380. Upkeep of common interest community.
Sec. 34.08.410. Voting and proxies.
Sec. 34.08.420. Tort and contract liability.
Sec. 34.08.430. Conveyance or encumbrance of common elements.
Sec. 34.08.450. Surplus funds.
Sec. 34.08.460. Assessments for common expenses.
Sec. 34.08.470. Lien for assessments.