§ 3314. Assessments for common expenses
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 68 Pa.C.S.A. Real and Personal Property
68 Pa.C.S.A. § 3314
§ 3314. Assessments for common expenses
(a) General rule.--Until the association makes a common expense assessment, the declarant shall pay all the expenses of the condominium. After any assessment has been made by the association, assessments shall be made at least annually and shall be based on a budget adopted at least annually by the association. The budgets of the association shall segregate limited common expenses from general common expenses if and to the extent appropriate.
(b) Allocation and interest.--Except for assessments under subsection (c), common expenses shall be assessed against all the units in accordance with the common expense liability allocated to each unit (section 3208) in the case of general common expenses and in accordance with subsection (c) in the case of special allocations of expenses. Any past due assessment or installment thereof shall bear interest at the rate established by the association not exceeding 15% per year.
Credits
1980, July 2, P.L. 286, No. 82, § 1, effective in 120 days. Amended 1992, Dec. 18, P.L. 1279, No. 168, § 5, effective in 45 days.
68 Pa.C.S.A. § 3314, PA ST 68 Pa.C.S.A. § 3314
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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