New York § 339-BB - 339-BBInsurance
Full text of New York New York Consolidated Laws § 339-BB — 339-BBInsurance, with citation guidance and answers to common questions.
§ 339-BB. 339-BBInsurance
§ 339-bb. Insurance. The board of managers shall, if required by the declaration, the by-laws or by a majority of the unit owners, insure the building against loss or damage by fire and such other hazards as shall be required, and shall give written notice of such insurance and of any change therein or termination thereof to each unit owner. In the case of a qualified leasehold condominium, such insurance shall be required in any event, and shall be in an amount equal to full replacement cost of the building. The policy or policies of such insurance shall be updated annually to maintain such insurance in such amount. Nothing herein shall prejudice the right of each unit owner to insure his own unit for his own benefit. The premiums for such insurance on the building shall be deemed common expenses, provided, however, that in charging the same to the unit owners consideration may be given to the higher premium rates on some units than on others.
Frequently Asked Questions About New York § 339-BB
What does New York Consolidated Laws § 339-BB cover?
Section 339-BB ("339-BBInsurance") is part of the New York Consolidated Laws, the codified statutory law of New York. 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 New York § 339-BB?
A common citation format is "New York Consolidated Laws § 339-BB" (New York). 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 New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 339-BB apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York 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 New York.