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Community Land Management Act 2021
151Use of insurance money by association
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151 Use of insurance money by association
151 Use of insurance money by association
(1) An association that receives money from an insurer for the destruction of or damage to a building on association property must immediately apply that money in rebuilding, replacing, repairing or restoring the building.
(2) This section does not apply to an association if the association determines, by unanimous resolution, that the money is not to be so applied.
(3) This section is subject to any order made under the Community Land Development Act 2021.