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The DC Code: § 42-1903.11 Rights to surplus funds.

Index42 Real Property. (Refs & Annos)

Unless otherwise provided in the condominium instruments, any surplus funds of the unit owners' association that remain after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to the unit owners' liabilities for common expenses or credited to the unit owners to reduce the unit owners' future common expense assessments.

Historical and Statutory

Prior Codifications 1981 Ed., § 45-1851. 1973 Ed., § 5-1251. Legislative History of Laws For legislative history of D.C. Law 1-89, see Historical and Statutory Notes following § 42-1901.01. For legislative history of D.C. Law 8-233, see Historical and Statutory Notes following § 42-1901.07. DC CODE § 42-1903.11 Current through December 11, 2012

Credits

(Mar. 29, 1977, D.C. Law 1-89, title III, § 311, 23 DCR 9532b; Mar. 8, 1991, D.C. Law 8-233, § 2(ee), 38 DCR 261.)