153Association may take out other insurance

#### 153 Association may take out other insurance 153 Association may take out other insurance > > (1) An association may insure property that it is not required to insure by this Part and in which it has an insurable interest. > > > (2) An association may take out insurance, at its own expense, in respect of any of the following— > > > > > (a) damage to property, death or bodily injury for which a person holding the office of chairperson, secretary or treasurer of the association or of a member of the association committee could become liable in damages because of an act or omission, committed or omitted in good faith, in performing the functions of that office, > > > > > (b) misappropriation of money or other property of the association. > > > (3) Insurance taken out under this section must be taken out with an approved insurer.