57-8a-406. Liability insurance -- 2011 Version

Historical Version of Section.
Effective May 10, 2011.  
Superseded May 14, 2013.

(1) This section applies to a liability insurance policy required under Subsection 57-8a-403(1)(b).

(2) A liability insurance policy shall be in an amount determined by the board but not less than an amount specified in the declaration or bylaws.

(3) Each lot owner is an insured person under a liability insurance policy that an association obtains that insures against liability arising from the lot owner's interest in the common areas or from membership in the association. 

Enacted by Chapter 355, 2011 General Session

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