Maine § 1603-114. - Surplus funds
Full text of Maine Maine Revised Statutes § 1603-114. — Surplus funds, with citation guidance and answers to common questions.
§ 1603-114.. Surplus funds
Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves must be paid to the unit owners in proportion to their common expense liability or credited to them to reduce their future common expense assessments. [PL 1981, c. 699 (NEW).]
Frequently Asked Questions About Maine § 1603-114.
What does Maine Revised Statutes § 1603-114. cover?
Section 1603-114. ("Surplus funds") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1603-114.?
A common citation format is "Maine Revised Statutes § 1603-114." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1603-114. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.