Alaska Statutes (Last Updated: January 11, 2017) |
Title 34. PROPERTY. |
Chapter 34.08. COMMON INTEREST OWNERSHIP. |
Article 34.08.03. MANAGEMENT OF THE COMMON INTEREST COMMUNITY. |
Section 34.08.450. Surplus funds.
Latest version.
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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.
Notes
History
(Sec. 1 ch 95 SLA 1985)