46:8A-23 - Insuring building and common elements against risks - New Jersey Statutes

46:8A-23.  Insuring building and common elements against risks
    The coowners, as such, or the administrator, or the board of administration,  or other form of administration specified in the bylaws, shall insure all  buildings and the general and limited common elements against risk, without  prejudice to the right of each coowner to insure his apartment on his own  account and for his own benefit.

     L.1963, c. 168, s. 23.  Amended by L.1978, c. 124, s. 9, eff. Oct. 5, 1978.