§1603-114. 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 liability or credited to them to reduce their future common expense assessments. [PL 1981, c. 699 (NEW).]
SECTION HISTORY
PL 1981, c. 699 (NEW).
Structure Maine Revised Statutes
Chapter 31: MAINE CONDOMINIUM ACT
Article 3: MANAGEMENT OF THE CONDOMINIUM
33 §1603-101. Organization of unit owners' association
33 §1603-102. Powers of unit owners' association
33 §1603-103. Executive board members and officers; declarant control
33 §1603-104. Transfer of special declarant rights
33 §1603-105. Termination of contracts and leases of declarant
33 §1603-107. Upkeep of the condominium
33 §1603-111. Tort and contract liability
33 §1603-112. Alienation of common elements
33 §1603-115. Assessments for common expenses
33 §1603-115-A. Optional escrow of assessments
33 §1603-116. Lien for assessments
33 §1603-117. Other liens affecting the condominium