Section 35-8A-314 Surplus funds. - Alabama Statutes

Section 35-8A-314

Surplus funds.

Unless otherwise provided in the declaration or bylaws, 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 liabilities or credited to them to reduce their future common expense assessments.

(Acts 1990, No. 90-551, p. 858, §3-114.)