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2019 Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Title I - Title to Real Property
Chapter 183b - Real Estate Time-Shares
Section 27 - Surplus Funds
Universal Citation:
MA Gen L ch 183b § 27 (2019)
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Section 27. Unless otherwise provided in the time-share instrument, the by-laws, rules or regulations of the time-share association or otherwise determined by the time-share owners at a meeting of time-share owners or pursuant to either section thirty-three or thirty-four, any surplus funds derived from the time-share owners or from property belonging to said time-share owners or their association and held by a managing entity remaining after payment of or provision for time-share expenses and any required reserves shall be paid to the time-share owners in proportion to their time-share expense liabilities or credited to them to reduce their future time-share expense assessments.
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