Connecticut General Statutes 47-256 – 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 shall 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.
Terms Used In Connecticut General Statutes 47-256
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.