New Jersey S1013 prohibits condominium associations from assessing insurance deductibles to individual unit owners or groups of unit owners.
New Jersey S1013 amends existing law to prohibit condominium associations from passing the cost of insurance deductibles to individual unit owners or groups of unit owners. Currently, associations can charge deductibles to specific owners, but this bill aims to prevent such assessments, ensuring that unit owners benefit fully from the association's insurance policy. The bill takes effect immediately upon enactment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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