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2020 Georgia Code
Title 44 - Property
Chapter 3 - Regulation of Specialized Land Transactions
Article 3 - Condominiums
§ 44-3-108. Common Profits; Application to Expenses; Surplus
Universal Citation: GA Code § 44-3-108 (2020)
The common profits shall be applied to the payment of common expenses, and the rights in any surplus remaining after such payment shall pertain to the condominium units in proportion to the liability for common expenses pertaining to each such unit. The surplus shall be accordingly distributed to or credited to the next assessments chargeable to the unit owners except to such extent as the condominium instruments may require or permit the same to be added to reserves maintained pursuant to those instruments.
(Ga. L. 1975, p. 609, § 40.)
Am. Jur. 2d.
- 15A Am. Jur. 2d, Condominiums and Cooperative Apartments, § 34.C.J.S.
- 51C C.J.S., Landlord and Tenant, § 232.
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