West Virginia Statutes
§ 36B-3-114 — Surplus funds
West Virginia·Ch. 36B UNIFORM COMMON INTEREST OWNERSHIP ACT·Art. 3 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 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
1986 Reg. Sess., SB102; 1984 Reg. Sess., SB171; 1980 Reg. Sess., HB788
Nearby Sections
15
§ 36B-1-101
Short Title§ 36B-1-102
Applicability§ 36B-1-103
Definitions§ 36B-1-104
Variation by agreement§ 36B-1-105
Separate titles and taxation§ 36B-1-107
Eminent domain§ 36B-1-109
Construction against implicit repeal§ 36B-1-110
Uniformity of application and construction§ 36B-1-111
Unconscionable agreement or term of contract§ 36B-1-112
Obligation of good faith§ 36B-1-113
Remedies to be liberally administered§ 36B-1-114
Adjustment of dollar amounts