Alaska Statutes 34.08.450 – Surplus funds
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 34.08.450
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Unless otherwise provided in the declaration, surplus funds of the association remaining after payment of or provision for common expenses and prepayment of reserves must be paid to the unit owners in proportion to common expense liabilities or credited to them to reduce future common expense assessments.