Utah Code 57-8a-404. Other and additional insurance — Limit on effect of lot owner act or omission — Insurer’s subrogation waiver — Inconsistent provisions
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Terms Used In Utah Code 57-8a-404
- association: means a corporation or other legal entity, any member of which:(2)(a)(i) is an owner of a residential lot located within the jurisdiction of the association, as described in the governing documents; and(2)(a)(ii) by virtue of membership or ownership of a residential lot is obligated to pay:(2)(a)(ii)(A) real property taxes;(2)(a)(ii)(B) insurance premiums;(2)(a)(ii)(C) maintenance costs; or(2)(a)(ii)(D) for improvement of real property not owned by the member. See Utah Code 57-8a-102
- board: means the entity, regardless of name, with primary authority to manage the affairs of the association. See Utah Code 57-8a-102
- Document: means every instrument in writing, including every conveyance, affecting, purporting to affect, describing, or otherwise concerning any right, title, or interest in real property, except wills and leases for a term not exceeding one year. See Utah Code 57-1-1
- Governing documents: includes :
(11)(b)(i) articles of incorporation;(11)(b)(ii) bylaws;(11)(b)(iii) a plat;(11)(b)(iv) a declaration of covenants, conditions, and restrictions; and(11)(b)(v) rules of the association. See Utah Code 57-8a-102- Lot: means :
(16)(a) a lot, parcel, plot, or other division of land:(16)(a)(i) designated for separate ownership or occupancy; and(16)(a)(ii)(16)(a)(ii)(A) shown on a recorded subdivision plat; or(16)(a)(ii)(B) the boundaries of which are described in a recorded governing document; or(16)(b)(16)(b)(i) a unit in a condominium association if the condominium association is a part of a development; or(16)(b)(ii) a unit in a real estate cooperative if the real estate cooperative is part of a development. See Utah Code 57-8a-102- Person: means :
(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5- Property: includes both real and personal property. See Utah Code 68-3-12.5
(1)(a) The declaration or bylaws may require the association to carry other types of insurance in addition to those described in Section57-8a-403 .(1)(b) In addition to any type of insurance coverage or limit of coverage provided in the declaration or bylaws and subject to the requirements of this part, an association may, as the board considers appropriate, obtain:(1)(b)(i) an additional type of insurance than otherwise required; or(1)(b)(ii) a policy with greater coverage than otherwise required.(2) Unless a lot owner is acting within the scope of the lot owner’s authority on behalf of an association, a lot owner’s act or omission may not:(2)(a) void a property insurance policy under Subsection57-8a-403(1)(a) or a liability insurance policy under Subsection57-8a-403(1)(b) ; or(2)(b) be a condition to recovery under a policy.(3) An insurer under a property insurance policy or liability insurance policy obtained by an association under this part waives its right to subrogation under the policy against:(3)(a) any person residing with a lot owner, if the lot owner resides on the lot; and(3)(b) the lot owner.(4)(4)(a) An insurance policy issued to an association may not be inconsistent with any provision of this part.(4)(b) A provision of a governing document that is contrary to a provision of this part has no effect.(4)(c) Neither the governing documents nor a property insurance or liability insurance policy issued to an association may prevent a lot owner from obtaining insurance for the lot owner’s own benefit.