North Carolina § 47C-3-114 - Surplus funds.
Full text of North Carolina North Carolina General Statutes § 47C-3-114 — Surplus funds., with citation guidance and answers to common questions.
§ 47C-3-114. Surplus funds.
Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provisions for common expenses and any prepayment of reserves must be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments. History (1985 (Reg. Sess., 1986), c. 877, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 47C-3-114
What does North Carolina General Statutes § 47C-3-114 cover?
Section 47C-3-114 ("Surplus funds.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. 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 North Carolina § 47C-3-114?
A common citation format is "North Carolina General Statutes § 47C-3-114" (North Carolina). 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 North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 47C-3-114 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina 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 North Carolina.