Delaware Code Title 25 Sec. 2238 – Insurance
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The council shall, if required by the declaration, the code of regulations, or by a majority of the unit owners, insure the building against loss or damage by fire and such hazards as shall be required or requested without prejudice to the right of each unit owner to insure each such unit owner’s own unit for each such unit owner’s own benefit. The premiums for such insurance on the building shall be deemed common expenses.
25 Del. C. 1953, § ?2238; 54 Del. Laws, c. 282; 70 Del. Laws, c. 186, § ?1;
Terms Used In Delaware Code Title 25 Sec. 2238
- Building: means any multi-unit building or buildings or complex thereof, whether in vertical or horizontal arrangement, as well as other improvements comprising a part of the property and used or intended for use for residential, commercial or industrial purposes or for any other lawful purpose or for any combination of such uses. See Delaware Code Title 25 Sec. 2202
- Code of regulations: means such governing regulations as are adopted pursuant to this chapter for the regulation and management of the property, including such amendments thereof as may be adopted from time to time. See Delaware Code Title 25 Sec. 2202
- Common expenses: means and includes:
- Council: means a board of natural individuals of the number stated in the code of regulations all of whom shall be either residents of this State or unit owners, as defined in paragraph (21) of this section, but need not be both, and who shall manage the business operation and affairs of the property on behalf of the unit owners and in compliance with and subject to the provisions of this chapter. See Delaware Code Title 25 Sec. 2202
- Declaration: means the instrument by which the owner in fee simple or lessee of the property submits it to the provisions of this chapter as hereinafter provided and all amendments thereof. See Delaware Code Title 25 Sec. 2202
- majority of the unit owners: means the owners of more than 50 percent in the aggregate in interest of the undivided ownership of the common elements as specified in the declaration. See Delaware Code Title 25 Sec. 2202
- Unit: means a part of the property designed or intended for any type of independent use which has a direct exit to a public street or way, or to a common element or common elements leading to a public street or way, or to an easement or right-of-way leading to a public street or way, and includes the proportionate undivided interest in the common elements which is assigned thereto in the declaration or any amounts thereof. See Delaware Code Title 25 Sec. 2202
- Unit owner: means the person or persons owning a unit. See Delaware Code Title 25 Sec. 2202