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38 chapters · 504 sections in this title.
33 M.R.S. § 1603-113 Insurance
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(a) Commencing not later than the time of the first conveyance of a unit to a person other than a declarant, the association shall maintain, to the extent reasonably available: (1) Property insurance on the common elements, insuring against all risks of direct physical loss commo…
33 M.R.S. § 1603-114 Surplus funds
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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 liability or credited to them to red…
33 M.R.S. § 1603-115 Assessments for common expenses
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(a) Until the association makes a common expense assessment, the declarant shall pay all the common expenses. After any assessment has been made by the association, assessments thereafter must be made at least annually, based on a budget adopted at least annually by the associati…
33 M.R.S. § 1603-115-A Optional escrow of assessments
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(a) The association may require that a person who purchases a unit after October 1, 2009 make payments into an escrow account established by the association until the balance in the escrow account for that unit is equal to 6 months of assessments as established under section 1603…