HomeMy WebLinkAbout0936 - 2. Public Liability Insurance. The Association shall
obtain public liability and property damage insurance covering all
of the Common Property and Association Property, and insuring the
Association and the members as their interests appear, in such
amounts and providing such coverage as the Board of Directors of
the Association may determine from time to time, provided, that
the minimum amount of coverage shall be $100,000 each person, and
$300,000 each incident. The liability insurance shall include,
but not be limited to, hired and non-owned automobile coverage.
3. ~7orkmen's Compensation Insurance. The Association
shall obtain h~orbnen's Compensation Insurance in order to meet the
requirements of law, as necessary.
4.• Flood Insurance. The .Association shall obtain
flood insurance to meet the requirements of federal, state, or
local law, or any regulation enacted pursuant to federal, state or
local law.
S. Other Insurance. The Board of Directors of the
Association shall obtain such other insurance as they shall
determine from time to time to be desirable.
6. Subrogation Waiver. If available, the Association
shall obtain policies which provide that the insurer waives its
right to subrogation as to any claim against members, the
Association, and their respective servants, agents and guests. .
i
~ C. Premiums. Premiums upon insurance policies purchased by
the Association shall be paid by the Association. The cost of
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insurance premiums and other incidental expenses incurred by the
Association in administering and carrying out any of the
provisions of this Section shall be assessed against and collected
from members as part of general assessments.
D. Shares of Proceeds. All insurance policies purchased by
the Association shall be for the benefit of the Association, the
members, and mortgagees of~the Common Property and Association .
Property, as their interests may appear, and shall Frovide that
all proceeds covering losses shall be paid to the Insurance
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