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GA HB389
Bill
Status
Introduced
2/14/2023
Primary Sponsor
Martin Momtahan
Click for details
AI Summary
- Increases the maximum insurance deductible amount that a condominium association can allocate to any one unit owner from $5,000 to $10,000 per casualty loss covered under association-required insurance
- Amends Code Section 44-3-94 of Title 44 of the Official Code of Georgia Annotated, governing damage or destruction of condominium units
- Retains the requirement that associations may only allocate deductible costs to unit owners to the extent provided for in the condominium instruments
- Preserves the existing provision that a reasonable deductible in a required insurance policy shall not be deemed a failure to maintain insurance as required by law
- Offered as a substitute bill by the House Committee on Insurance
Legislative Description
Property; condominiums; revise maximum amount of insurance deductibles payable by unit owners
Last Action
House Committee Favorably Reported By Substitute
2/27/2024
Committee Referrals
Insurance2/15/2023
Full Bill Text
No bill text available