What insurance must be purchased by an association can usually be determined by reading the governing documents and relevant NC statutes (and consulting an experienced community association insurance professional!). The NC Condominium Act details what insurance must be purchased by a condominium association created on or after October 1, 1986 (other statutes provide for insurance requirements on older condos or planned communities). NCGS § 47C-3-113 states, among other things: Read the article……………..
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