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Unit Title Schemes Act 2009
57Insurance for mortgaged unit
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57 Insurance for mortgaged unit The mortgagee of a unit must not require the unit owner to maintain an insurance policy (the owner policy) for an interest already covered by a body corporate policy unless: (a) the amount insured under the body corporate policy for the interest is less than the amount owing under the mortgage; and (b) the owner policy covers the difference between the amounts.
Unit Title Schemes Act 2009 33