(a)  The manager, management committee, or association of unit owners, if required by the declaration, bylaws, or by a majority of the unit owners, or at the request of a mortgagee having a first mortgage of record covering a unit, shall have the authority to, and shall, obtain insurance for the property against loss or damage by fire and other hazards under the terms and for amounts as shall be required or requested. Insurance coverage shall be written on the property in the name of the manager, management committee, or association of unit owners, as trustee for each of the unit owners in the percentages established in the declaration. Premiums on insurance shall be common expenses. Provision for insurance shall be without prejudice to the right of each unit owner to insure his or her own unit for his or her benefit.

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Terms Used In Rhode Island General Laws 34-36-29

  • Appraisal: A determination of property value.
  • Association of unit owners: means all of the unit owners acting as a group in accordance with the declaration and bylaws. See Rhode Island General Laws 34-36-3
  • Common expenses: means and includes:

    (i)  All sums lawfully assessed against the unit owners;

    (ii)  Expenses of administration, maintenance, repair, or replacement of the common areas and facilities;

    (iii)  Expenses agreed upon as common expenses by the association of unit owners;

    (iv)  Expenses declared common expenses by provisions of this chapter, or by the declaration or the bylaws. See Rhode Island General Laws 34-36-3

  • Condominium: means the ownership of a single unit in a multi-unit project together with an undivided interest in common in the common areas and facilities of the property. See Rhode Island General Laws 34-36-3
  • Declaration: means the instrument by which the property is submitted to the provisions of this chapter, as it from time to time may be lawfully amended. See Rhode Island General Laws 34-36-3
  • Management committee: means the committee as provided in the declaration charged with and having the responsibility and authority to make and to enforce all of the reasonable rules and regulations covering the operation and maintenance of the property. See Rhode Island General Laws 34-36-3
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Property: means and includes the land, the building, all improvements and structures thereon, all easements, rights, and appurtenances belonging thereto, and all articles of personal property intended for use in connection therewith. See Rhode Island General Laws 34-36-3
  • Trustee: A person or institution holding and administering property in trust.
  • Unit: means a part of the property intended for any type of independent use, including one or more rooms or spaces located in one or more floors (or part or parts of floors) in a building. See Rhode Island General Laws 34-36-3
  • Unit owner: means the person or persons owning a unit in fee simple and an undivided interest in the fee simple estate of the common areas and facilities in the percentage specified and established in the declaration. See Rhode Island General Laws 34-36-3

(b)  In the event a unit owner sustains damage to their unit as a result of an event that is covered under the insurance coverage purchased in accordance with subsection (a), then, upon written request to the condominium association, the unit owner shall be entitled to a written copy from the condominium association of the insurance company damage appraisal, or any damage appraisal in regard to damage to the owner’s unit, within fourteen (14) calendar days of the date of the unit owner’s request, or within fourteen (14) days of the association’s receipt of the damage appraisal, whichever is later. If coverage for the damage to a unit is denied for any reason, or is deemed to be valued below the policy deductible, then the unit owner shall also be entitled to receive, from the association, a copy of the letter detailing the determination.

History of Section.
P.L. 1963, ch. 181, § 1; P.L. 2016, ch. 433, § 1; P.L. 2016, ch. 434, § 1.