New Jersey S3561 prohibits condominium associations from charging insurance deductibles to individual unit owners or groups of unit owners.
New Jersey S3561 amends existing condominium laws to prohibit condominium associations from assessing insurance deductibles to individual unit owners or groups of unit owners. This change ensures that unit owners benefit fully from the rights and obligations associated with their insurance coverage. The bill specifies that any insurance deductibles arising from claims under the association's insurance policy cannot be passed on to individual unit owners or groups.
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