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the Vermont Statutes
2011 Vermont Code
Title 27A Uniform Common Interest Ownership Act (1994)
Chapter 3 Management of the Common Interest Commu=-nity
§ 114 Surplus funds [ 3-114 effective until January 1, 2012; see also section 3-114 effective January 1, 2012 set out below.]
Universal Citation:
27A VT Stats § 3-114. (2011 through Adj Sess)
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[ 3-114 effective until January 1, 2012; see also section 3-114 effective January 1, 2012 set out below.]
§ 3-114. Surplus funds
Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)
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