Amendment status not verified — confirm the current text below against the official source.
Insurance - The Manager or Board of Managers of an association of apartment owners if required by the Declaration or the bye-laws or by a majority of the apartment owners, shall have authority to, and shall obtain insurance coverage for the property against loss or damage by fire and such other hazards under such terms and for such amounts as shall be required. Such insurance shall be in the name of the Manager or the Board of Managers of the association of the apartment owners as trustee for each of the apartment owners in the percentage established in the declaration.