Delaware Statutes
§ 81-314 — Surplus funds
Delaware·Title 25·Part Common Interests and Ownership of Real Estate·Ch. 81 DELAWARE UNIFORM COMMON INTEREST OWNERSHIP ACT·Subch. Management of the Common Interest Community
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 annually to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
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Legislative History
76 Del. Laws, c. 422, § 2 ; 77 Del. Laws, c. 91, § 82
Nearby Sections
15
§ 81-101
Short title§ 81-102
Applicability§ 81-103
Definitions§ 81-104
Variation by agreement§ 81-105
Separate titles and taxation§ 81-107
Eminent domain§ 81-111
Severability§ 81-113
Obligation of good faith