Title 33 - Property
Chapter 9, Condominiums, Sec. 33-1201-33-1270
Article 3, Management of the Condominium, § 33-1254
Unless otherwise provided in the declaration, any surplus monies of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
Source: This content is sourced from the online version of the Arizona Revised Statutes located at www.azleg.gov.
Disclaimer: These statutes are provided as a courtesy by CHDB Law LLP. CHDB Law cannot guarantee that the statutes set forth on the website or in our published guide will not be found to be defective by a court or other tribunal after the date the books or online material are published. The HOA Knowledge Base does not attempt to include every statute that could apply to a community association issue. There may be other statutes or applicable laws that have a bearing on a particular legal issue confronted by a community association. These statutes are provided as a reference only. If a particular legal issue is confronted by a community association, the association should seek legal advice from competent attorneys.
Our accomplished attorneys are well-versed in navigating the intricacies of State and local regulations impacting your community association or business. If you have a question, we’re just a phone call away. Call our toll-free number at (800) 743-9324 or contact us via email to discuss your specific concerns and questions.
