The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
CONDOMINIUM OWNERSHIP
(Cite as: 27 V.S.A. § 1325)
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§ 1325. Insurance
The manager or the board of directors, if required by the declaration, bylaws or by
a majority of the apartment or site owners, or at the request of a mortgagee having
a first mortgage of record covering an apartment or site, shall have the authority
to, and shall, obtain insurance for the property against loss or damage by fire and
such other hazards under such terms and for such amounts as shall be required or requested.
Such insurance coverage shall be written on the property in the name of such manager
or of the board of directors of the association of owners, as trustee for each of
the apartment or site owners in the percentages established in the declaration. Premiums
shall be common expenses. Provision for such insurance shall be without prejudice
to the right of each apartment or site owner to insure his or her own apartment or
site for his or her benefit. (Added 1967, No. 228 (Adj. Sess.), § 25, eff. Jan. 23, 1968; amended 1993, No. 97, § 2.)