Section 404 – Other and additional insurance — Limit on effect of lot owner act or omission — Insurer’s subrogation waiver — Inconsistent provisions.
57-8a-404. Other and additional insurance — Limit on effect of lot owner act or omission — Insurer’s subrogation waiver — Inconsistent provisions. (1) (a) The declaration or bylaws may require the association to carry other types of insurance in addition to those described in Section 57-8a-403. (b) In addition to any type of insurance coverage […]
Section 405 – Property insurance.
57-8a-405. Property insurance. (1) This section applies to property insurance required under Subsection 57-8a-403(1)(a). (2) The total amount of coverage provided by blanket property insurance or guaranteed replacement cost insurance may not be less than 100% of the full replacement cost of the insured property at the time the insurance is purchased and at each […]
Section 401 – Definition.
57-8a-401. Definition. As used in this part, “reasonably available” means available using typical insurance carriers and markets, irrespective of the ability of the association to pay. Enacted by Chapter 355, 2011 General Session
Section 402 – Applicability of part.
57-8a-402. Applicability of part. (1) This part applies to an insurance policy or combination of insurance policies: (a) issued or renewed on or after July 1, 2011; and (b) issued to or renewed by: (i) a lot owner; or (ii) an association, regardless of when the association is formed. (2) Unless otherwise provided in the […]
Section 307 – Action to recover unpaid assessment.
57-8a-307. Action to recover unpaid assessment. An association need not pursue a judicial foreclosure or nonjudicial foreclosure to collect an unpaid assessment but may file an action to recover a money judgment for the unpaid assessment without waiving the lien under Section 57-8a-301. Enacted by Chapter 355, 2011 General Session
Section 308 – Appointment of receiver.
57-8a-308. Appointment of receiver. In an action by an association to collect an assessment or to foreclose a lien for an unpaid assessment, a court may: (1) appoint a receiver, in accordance with Section 7-2-9, to collect and hold money alleged to be due and owing to a lot owner: (a) before commencement of the […]
Section 309 – Termination of a delinquent owner’s rights — Notice — Informal hearing.
57-8a-309. Termination of a delinquent owner’s rights — Notice — Informal hearing. (1) As used in this section, “delinquent lot owner” means a lot owner who fails to pay an assessment when due. (2) A board may, if authorized in the declaration, bylaws, or rules and as provided in this section, terminate a delinquent lot […]
Section 310 – Requiring tenant in residential lot to pay rent to association if owner fails to pay assessment.
57-8a-310. Requiring tenant in residential lot to pay rent to association if owner fails to pay assessment. (1) As used in this section: (a) “Amount owing” means the total of: (i) any assessment or obligation under Section 57-8a-301 that is due and owing; and (ii) any applicable interest, late fee, and cost of collection. (b) […]
Section 311 – Statement from association’s manager or board of unpaid assessment.
57-8a-311. Statement from association’s manager or board of unpaid assessment. (1) An association’s manager or board shall issue a written statement indicating any unpaid assessment with respect to a lot owner’s lot upon: (a) a written request by the lot owner; and (b) payment of a reasonable fee not to exceed $25. (2) A written […]
Section 302 – Enforcement of a lien.
57-8a-302. Enforcement of a lien. (1) (a) Except as provided in Section 57-8a-105, to enforce a lien established under Section 57-8a-301, an association may: (i) cause a lot to be sold through nonjudicial foreclosure as though the lien were a deed of trust, in the manner provided by: (A) Sections 57-1-24, 57-1-25, 57-1-26, and 57-1-27; […]