Brattleboro condo association faces unexpected assessment (VT)

“Board after board, year after year” failed to maintain a reserve, according to Eckley. The association’s bylaws state the fund should cover “the total of all deductible amounts under all insurance policies maintained by the association” and there should be an appropriate amount of money to replace elements owned by the entire condo complex “with a limited useful life, determined with reference to the estimated useful life and replacement cost of each item” as determined by the board.   Read the article…………..