| Chapter 433 |
| 2016 -- H 7437 SUBSTITUTE A Enacted 07/12/2016 |
| A N A C T |
| RELATING TO PROPERTY -- CONDOMINIUM OWNERSHIP -- INSURANCE |
| Introduced By: Representatives Solomon, Shekarchi, Coughlin, and Melo |
| Date Introduced: February 03, 2016 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. Section 34-36-29 of the General Laws in Chapter 34-36 entitled |
| "Condominium Ownership" is hereby amended to read as follows: |
| 34-36-29. Insurance. -- (a) The manager, management committee, or association of unit |
| owners, if required by the declaration, bylaws, or by a majority of the unit owners, or at the |
| request of a mortgagee having a first mortgage of record covering a unit, shall have the authority |
| to, and shall, obtain insurance for the property against loss or damage by fire and other hazards |
| under the terms and for amounts as shall be required or requested. Insurance coverage shall be |
| written on the property in the name of the manager, management committee, or association of |
| unit owners, as trustee for each of the unit owners in the percentages established in the |
| declaration. Premiums on insurance shall be common expenses. Provision for insurance shall be |
| without prejudice to the right of each unit owner to insure his or her own unit for his or her |
| benefit. |
| (b) In the event a unit owner sustains damage to their unit as a result of an event that is |
| covered under the insurance coverage purchased in accordance with subsection (a), then, upon |
| written request to the condominium association, the unit owner shall be entitled to a written copy |
| from the condominium association of the insurance company damage appraisal, or any damage |
| appraisal in regard to damage to the owner's unit, within fourteen (14) calendar days of the date |
| of the unit owner's request, or within fourteen (14) days of the association's receipt of the damage |
| appraisal, whichever is later. If coverage for the damage to a unit is denied for any reason, or is |
| deemed to be valued below the policy deductible, then the unit owner shall also be entitled to |
| receive, from the association, a copy of the letter detailing the determination. |
| SECTION 2. This act shall take effect upon passage. |
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| LC004190/SUB A |
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