§ 34-36-29 - Insurance. - Rhode Island Statutes

SECTION 34-36-29

   § 34-36-29  Insurance. – The manager, management committee, or association of unit owners, if requiredby the declaration, bylaws or by a majority of the unit owners, or at therequest of a mortgagee having a first mortgage of record covering a unit, shallhave the authority to, and shall, obtain insurance for the property againstloss or damage by fire and other hazards under the terms and for amounts asshall be required or requested. Insurance coverage shall be written on theproperty in the name of the manager, management committee, or association ofunit owners, as trustee for each of the unit owners in the percentagesestablished in the declaration. Premiums on insurance shall be common expenses.Provision for insurance shall be without prejudice to the right of each unitowner to insure his or her own unit for his or her benefit.