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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 5311.16 | Condominium insurance.

Ohio Revised Code
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Title 53 Real Property
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Chapter 5311 Condominium Property
 
You are viewing a past version of this section that is no longer in effect View Current Version
Effective:
July 20, 2004
Legislation:
House Bill 135 - 125th General Assembly
PDF:
Download Authenticated PDF
 

Unless otherwise provided by the declaration or bylaws, the board of directors shall insure all unit owners, their tenants, and all persons lawfully in possession or control of any part of the condominium property for the amount that it determines against liability for personal injury or property damage arising from or relating to the common elements and shall obtain for the benefit of all unit owners, fire and extended coverage insurance on all buildings and structures of the condominium property in an amount not less than eighty per cent of the fair market value. The cost of the insurance is a common expense.

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