Rhode Island S2896 clarifies insurance deductibles and unpaid losses for condominiums, mandates unit owner insurance if associations do not, and.

Rhode Island S2896 amends the state's condominium laws to clarify how insurance deductibles and unpaid losses are divided between condominium associations and unit owners. It requires unit owners to maintain property insurance if the association does not, and allows condominium boards to manage and use insurance proceeds for repairs. The bill specifies that if a unit owner fails to comply with insurance obligations, they are responsible for expenses related to their unit after a loss.

Rhode Island S2896 clarifies insurance deductibles and unpaid losses for condominiums, mandates unit owner insurance if associations do not, and.

Rhode Island S2896 amends the state's condominium laws to clarify how insurance deductibles and unpaid losses are divided between condominium associations and unit owners. It requires unit owners to maintain property insurance if the association does not, and allows condominium boards to manage and use insurance proceeds for repairs. The bill specifies that if a unit owner fails to comply with insurance obligations, they are responsible for expenses related to their unit after a loss.