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Section 15: Insurance

The Uttar Pradesh Apartment (Promotion of construction, Ownership & Maintenance) Act,-2010State Act of Uttar Pradesh · Act 16 of 2010

(1) The Board or Manager-

(a) shall have, if requested so to do by a mortgagee having a first mortgage covering an apartment, the authority to, and

(b) shall, if required so to do by the bye-laws or by a majority of the apartment owners, Obtain insurance for the property against loss or damage by fire or other hazards under such terms and for such amounts as requested or required.

(2) Such insurance coverage shall be written on the property in the name of such Board or Manager as trustee for each of the apartment owners in the percentages specified in the bye-laws.

(3) The premia payable in respect of every such insurance shall be common expenses.

(4) The provisions of sub-section (1) to (3) shall be without prejudice to the right of each of the apartment owner to insure his own apartment for his benefit.

Where this provision sits

ActThe Uttar Pradesh Apartment (Promotion of construction, Ownership & Maintenance) Act,-2010
Section15
Marginal noteInsurance
JurisdictionState of Uttar Pradesh
StatusIn force as published by the source

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