Unless otherwise provided in the condominium instruments, any surplus funds of the unit owners' association that remain after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to the unit owners' liabilities for common expenses or credited to the unit owners to reduce the unit owners' future common expense assessments.
CREDIT(S)
(Mar. 29, 1977, D.C. Law 1-89, title III, § 311, 23 DCR 9532b; Mar. 8, 1991, D.C. Law 8-233, § 2(ee), 38 DCR 261.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 45-1851.
1973 Ed., § 5-1251.
Legislative History of Laws
For legislative history of D.C. Law 1-89, see Historical and Statutory Notes following § 42-1901.01.
For legislative history of D.C. Law 8-233, see Historical and Statutory Notes following § 42-1901.07.