| 91 |
Be It Enacted by the
Legislature of the State of Florida: |
| 92 |
|
| 93 |
Section
1. Section 514.011, Florida Statutes, is amended |
| 94 |
to read: |
| 95 |
514.011 Definitions.--As
used in this chapter: |
| 96 |
(1) "Department"
means the Department of Health. |
| 97 |
(2) "Homeowners'
association" means a homeowners' |
| 98 |
association
as defined in s. 720.301. |
| 99 |
(3)(5) "Portable
pool" means a pool or spa, and related |
| 100 |
equipment systems of any
kind, which is designed or intended to |
| 101 |
be movable from location to
location. |
| 102 |
(4)(3) "Private
pool" means a facility used only by an |
| 103 |
individual, family, or
living unit members and their guests |
| 104 |
which does not serve any
type of cooperative housing or joint |
| 105 |
tenancy of five or more
living units. |
| 106 |
(5)(4) "Public
bathing place" means a body of water, |
| 107 |
natural or modified by
humans, for swimming, diving, and |
| 108 |
recreational bathing,
together with adjacent shoreline or land |
| 109 |
area, buildings, equipment,
and appurtenances pertaining |
| 110 |
thereto, used by consent of
the owner or owners and held out to |
| 111 |
the public by any person or
public body, irrespective of whether |
| 112 |
a fee is charged for the use
thereof. The bathing water areas of |
| 113 |
public bathing places
include, but are not limited to, lakes, |
| 114 |
ponds, rivers, streams,
artificial impoundments, and waters |
| 115 |
along the coastal and
intracoastal beaches and shores of the |
| 116 |
state. |
| 117 |
(6)(2) "Public
swimming pool" or "public pool" means a |
| 118 |
watertight structure of
concrete, masonry, or other approved |
| 119 |
materials which is located
either indoors or outdoors, used for |
| 120 |
bathing or swimming by
humans, and filled with a filtered and |
| 121 |
disinfected water supply,
together with buildings, |
| 122 |
appurtenances, and equipment
used in connection therewith. A |
| 123 |
public swimming pool or
public pool shall mean a conventional |
| 124 |
pool, spa-type pool, wading
pool, special purpose pool, or water |
| 125 |
recreation attraction, to
which admission may be gained with or |
| 126 |
without payment of a fee and
includes, but is not limited to, |
| 127 |
pools operated by or serving
camps, churches, cities, counties, |
| 128 |
day care centers, group home
facilities for eight or more |
| 129 |
clients, health spas,
institutions, parks, state agencies, |
| 130 |
schools, subdivisions, or
the cooperative living-type projects |
| 131 |
of five or more living
units, such as apartments, |
| 132 |
boardinghouses, hotels,
mobile home parks, motels, recreational |
| 133 |
vehicle parks, and
townhouses. |
| 134 |
Section
2. Subsection (2) of section 514.0115, Florida |
| 135 |
Statutes, is amended to
read: |
| 136 |
514.0115 Exemptions
from supervision or regulation; |
| 137 |
variances.-- |
| 138 |
(2)(a) Pools
serving no more than 32 homeowners' |
| 139 |
association,
condominium, or cooperative units which are not |
| 140 |
operated as a public lodging
establishment shall be exempt from |
| 141 |
supervision under this
chapter, except for water quality. |
| 142 |
(b) Pools
serving homeowners', condominium,
or cooperative |
| 143 |
associations of more than 32
units and whose recorded documents |
| 144 |
prohibit the rental or
sublease of the units for periods of less |
| 145 |
than 60 days are exempt from
supervision under this chapter, |
| 146 |
except that the homeowners'
association or condominium or |
| 147 |
cooperative owner or
association must file applications with the |
| 148 |
department and obtain
construction plans approval and receive an |
| 149 |
initial operating permit.
The department shall inspect the |
| 150 |
swimming pools at such
places annually, at the fee set forth in |
| 151 |
s. 514.033(3), or upon
request by a unit owner, to determine |
| 152 |
compliance with department
rules relating to water quality and |
| 153 |
lifesaving equipment. The
department may not require compliance |
| 154 |
with rules relating to
swimming pool lifeguard standards. |
| 155 |
Section
3. Subsection (9) of section 515.25, Florida |
| 156 |
Statutes, is amended to
read: |
| 157 |
515.25 Definitions.--As
used in this chapter, the term: |
| 158 |
(9) "Public
swimming pool" means a swimming pool, as |
| 159 |
defined in s. 514.011(6)(2),
which is operated, with or without |
| 160 |
charge, for the use of the
general public; however, the term |
| 161 |
does not include a swimming
pool located on the grounds of a |
| 162 |
private residence. |
| 163 |
Section
4. Subsection (11), paragraphs (b) and (c) of |
| 164 |
subsection (12), and
subsection (13) of section 718.111, Florida |
| 165 |
Statutes, are amended to
read: |
| 166 |
718.111 The
association.-- |
| 167 |
(11) INSURANCE.--In
order to protect the safety, health, |
| 168 |
and welfare of the people of
the State of Florida and to ensure |
| 169 |
consistency in the provision
of insurance coverage to |
| 170 |
condominiums and their unit
owners, this subsection shall be |
| 171 |
paragraphs
(a), (b), and (c) are deemed to apply to every |
| 172 |
residential condominium in
the state, regardless of the date of |
| 173 |
its declaration of
condominium. It is the intent of the |
| 174 |
Legislature to encourage
lower or stable insurance premiums for |
| 175 |
associations described in
this section. |
| 176 |
(a) Adequate
hazard insurance, regardless of any |
| 177 |
requirement
in the declaration of condominium for coverage by |
| 178 |
the
association for "full insurable value," "replacement
cost," |
| 179 |
or the
like, shall be based upon the replacement cost of the |
| 180 |
property
to be insured as determined by an independent insurance |
| 181 |
appraisal
or update of a prior appraisal. The full insurable |
| 182 |
value
shall be determined not less frequently than every 36 |
| 183 |
months. |
| 184 |
1. An
association or group of associations may provide |
| 185 |
adequate
hazard insurance through a self-insurance fund that |
| 186 |
complies
with the requirements of ss. 624.460-624.488. |
| 187 |
2. The
association may also provide adequate hazard |
| 188 |
insurance
coverage, individually, or for a group of no fewer |
| 189 |
than
three communities created and operating under this chapter, |
| 190 |
chapter
719, chapter 720, or chapter 721, by obtaining and |
| 191 |
maintaining
for the communities insurance coverage sufficient to |
| 192 |
cover an
amount equal to the probable maximum loss for the |
| 193 |
communities
for a 250-year windstorm event provided that such |
| 194 |
probable
maximum loss must be determined through the use of a |
| 195 |
competent
model that has been accepted by the Florida Commission |
| 196 |
on
Hurricane Loss Projection Methodology. |
| 197 |
3. In
determining the adequate hazard insurance coverage, |
| 198 |
the
association may consider deductibles as determined by this |
| 199 |
subsection. |
| 200 |
(b) If
the association is developer controlled, the |
| 201 |
association
shall exercise best efforts to obtain and maintain |
| 202 |
such
insurance. Failure to obtain and maintain adequate hazard |
| 203 |
insurance
during any period of developer control shall |
| 204 |
constitute
a breach of fiduciary responsibility by the |
| 205 |
developer-appointed
members of the board of directors of the |
| 206 |
association,
unless such members can show that despite such |
| 207 |
failure,
they have made their best efforts. |
| 208 |
(c) Policies
may include deductibles as determined by the |
| 209 |
board. |
| 210 |
1. The
deductibles shall be consistent with industry |
| 211 |
standards
and prevailing practices for communities of like size |
| 212 |
and age,
having similar construction and facilities in the |
| 213 |
locale
where the condominium property is situated. |
| 214 |
2. The
deductibles may be based upon available funds, |
| 215 |
including
reserve accounts or predetermined assessment authority |
| 216 |
at the
time that the insurance is obtained. |
| 217 |
3. The
board shall establish the level of deductibles |
| 218 |
based
upon the level of available funds and predetermined |
| 219 |
assessment
authority at a meeting of the board which shall be |
| 220 |
open to
all unit owners in the manner set forth in s. |
| 221 |
718.112(2)(e).
The notice of such meeting shall state the |
| 222 |
proposed
deductible and the available funds and the assessment |
| 223 |
authority
relied upon by the board and shall estimate any |
| 224 |
potential
assessment amount against each unit, if any. The |
| 225 |
meeting
described in this subparagraph may be held in |
| 226 |
conjunction
with a meeting to consider the proposed budget or an |
| 227 |
amendment
thereto. |
| 228 |
(d) A
unit-owner-controlled association operating a |
| 229 |
residential
condominium shall use its best efforts to obtain and |
| 230 |
maintain
adequate insurance to protect the association, the |
| 231 |
association
property, the common elements, and the condominium |
| 232 |
property
required to be insured by the association pursuant to |
| 233 |
this
subsection. |
| 234 |
(e) The
declaration of condominium as originally recorded, |
| 235 |
or
amended pursuant to procedures provided therein, may require |
| 236 |
that
condominium property consisting of freestanding buildings |
| 237 |
where
there is no more than one building in or on such unit need |
| 238 |
not be
insured by the association if the declaration requires |
| 239 |
the unit
owner to obtain adequate insurance for the condominium |
| 240 |
property.
An association may also obtain and maintain liability |
| 241 |
insurance
for directors and officers, insurance for the benefit |
| 242 |
of
association employees, and flood insurance for common |
| 243 |
elements,
association property, and units. |
| 244 |
(f) Every
hazard insurance policy issued or renewed on or |
| 245 |
after
January 1, 2009, to protect the condominium shall provide |
| 246 |
primary
coverage for: |
| 247 |
1. All
portions of the condominium property as originally |
| 248 |
installed
or replacement of like kind and quality, in accordance |
| 249 |
with the
original plans and specifications. |
| 250 |
2. All
alterations or additions made to the condominium |
| 251 |
property
or association property pursuant to s. 718.113(2). |
| 252 |
3. The
coverage shall exclude all personal property within |
| 253 |
the unit
or limited common elements, floor, wall, and ceiling |
| 254 |
coverings,
electrical fixtures, appliances, water heaters, water |
| 255 |
filters,
built-in cabinets and countertops, and window |
| 256 |
treatments,
including curtains, drapes, blinds, hardware, and |
| 257 |
similar
window treatment components or replacements of any of |
| 258 |
the
foregoing. |
| 259 |
|
| 260 |
This
paragraph is intended to establish the property or casualty |
| 261 |
insuring
responsibilities of the association and those of the |
| 262 |
individual
unit owner and do not serve to broaden or extend the |
| 263 |
perils of
coverage afforded by any insurance contract provided |
| 264 |
to the
individual unit owner. |
| 265 |
(g) Every
hazard insurance policy issued or renewed on or |
| 266 |
after
January 1, 2009, to an individual unit owner shall provide |
| 267 |
that the
coverage afforded by such policy is excess over the |
| 268 |
amount
recoverable under any other policy covering the same |
| 269 |
property
and shall include special assessment coverage of not |
| 270 |
less than
$2,000 per occurrence. Each insurance policy issued to |
| 271 |
an
individual unit owner providing such coverage shall be |
| 272 |
without
rights of subrogation against the condominium |
| 273 |
association
that operates the condominium in which such unit |
| 274 |
owner's
unit is located. |
| 275 |
1. All
improvements or additions to the condominium |
| 276 |
property
that benefit less than all unit owners shall be insured |
| 277 |
by the
unit owner or owners having the use thereof, or may be |
| 278 |
insured
by the association at the cost and expense of the unit |
| 279 |
owners
having the use thereof. |
| 280 |
2. The
association shall require each owner to provide |
| 281 |
evidence
of a currently effective policy of hazard and liability |
| 282 |
insurance
upon request, but not more frequently than annually. |
| 283 |
Upon the
failure of an owner to provide a certificate of |
| 284 |
insurance
issued by an insurer approved to write such insurance |
| 285 |
in the
state within 30 days of a written request, the |
| 286 |
association
shall be entitled but shall not be obligated to |
| 287 |
purchase
a policy of insurance on behalf of an owner, and the |
| 288 |
cost
thereof, together with reconstruction costs undertaken by |
| 289 |
the
association, which are the responsibility of the unit owner |
| 290 |
may be
collected in the manner provided for collection of |
| 291 |
assessments
in s. 718.116. |
| 292 |
3. All
reconstruction work after a casualty loss shall be |
| 293 |
undertaken
by the association except as otherwise permitted |
| 294 |
herein. A
unit owner may undertake reconstruction work on |
| 295 |
portions
of the unit with the prior written consent of the board |
| 296 |
of
administration, which may be conditioned upon the approval of |
| 297 |
the
repair methods, the qualifications of the proposed |
| 298 |
contractor,
and the contract that is used for that purpose. A |
| 299 |
unit
owner shall obtain all required governmental permits and |
| 300 |
approvals
prior to commencing reconstruction. |
| 301 |
4. Unit
owners shall be responsible for the cost of |
| 302 |
reconstruction
of any portions of the condominium property for |
| 303 |
which the
unit owner is required to carry casualty insurance, |
| 304 |
and any
such reconstruction work undertaken by the association |
| 305 |
shall be
chargeable to the unit and enforceable as an assessment |
| 306 |
pursuant
to s. 718.116. The association is hereby designated as |
| 307 |
an
additional named insured and loss payee on all casualty |
| 308 |
insurance
policies issued to unit owners in the condominium |
| 309 |
operated
by the association. |
| 310 |
5. A
multicondominium association may elect, by a majority |
| 311 |
vote of
the collective members of the condominiums operated by |
| 312 |
the
association, to operate such condominiums as a single |
| 313 |
condominium
for purposes of insurance matters, including, but |
| 314 |
not
limited to, the purchase of the hazard insurance required by |
| 315 |
this
section and the apportionment of deductibles and damages in |
| 316 |
excess of
coverage. The election to aggregate the treatment of |
| 317 |
insurance
premiums, deductibles, and excess damages shall be |
| 318 |
treated
as an amendment to the declaration of all condominiums |
| 319 |
operated
by the association, and the costs of insurance shall be |
| 320 |
stated in
the association budget. The amendments shall be |
| 321 |
recorded
as required by s. 718.110. |
| 322 |
(h) The
association shall obtain and maintain adequate |
| 323 |
insurance
or fidelity bonding of all persons who control or |
| 324 |
disburse
funds of the association. The insurance policy or |
| 325 |
fidelity
bond must cover the maximum funds that will be in the |
| 326 |
custody
of the association or its management agent at any one |
| 327 |
time. As
used in this paragraph, the term "persons who control |
| 328 |
or
disburse funds of the association" includes, but is not |
| 329 |
limited
to, those individuals authorized to sign checks and the |
| 330 |
president,
secretary, and treasurer of the association. The |
| 331 |
association
shall bear the cost of bonding. |
| 332 |
(i) The
association has the authority to amend the |
| 333 |
declaration
of condominium, without regard to any requirement |
| 334 |
for
mortgagee approval of amendments affecting insurance |
| 335 |
requirements,
to conform the declaration of condominium to the |
| 336 |
coverage
requirements of this subsection. |
| 337 |
(j) Any
portion of the condominium property that the |
| 338 |
association
is required to insure against casualty loss pursuant |
| 339 |
to
paragraph (f) that is damaged by casualty shall be |
| 340 |
reconstructed,
repaired, or replaced, as necessary, by the |
| 341 |
association
as a common expense. All hazard insurance |
| 342 |
deductibles,
uninsured losses, and other damages in excess of |
| 343 |
hazard
insurance coverage under the hazard insurance policies |
| 344 |
maintained
by the association shall be a common expense of the |
| 345 |
condominium,
however: |
| 346 |
1. A
unit owner shall be responsible for the costs of |
| 347 |
repair or
replacement of any portion of the condominium property |
| 348 |
not paid
for by insurance proceeds, when such damage is caused |
| 349 |
by
intentional conduct, negligence, or failure to comply with |
| 350 |
the terms
of the declaration or the rules of the association by |
| 351 |
a unit
owner, the members of his or her family, unit occupants, |
| 352 |
tenants,
guests, or invitees, and without compromise of the |
| 353 |
subrogation
rights of any insurer as set forth in paragraph (g). |
| 354 |
2. The
provisions of subparagraph 1. regarding the |
| 355 |
financial
responsibility of a unit owner for the costs of |
| 356 |
repairing
or replacing other portions of the condominium |
| 357 |
property
also applies to the costs of repair or replacement of |
| 358 |
personal
property of other unit owners or the association, as |
| 359 |
well as
other property, whether real or personal, that the unit |
| 360 |
owners
are required to insure under paragraph (g). |
| 361 |
3. To
the extent the cost of repair or reconstruction for |
| 362 |
which the
unit owner is responsible under this paragraph is |
| 363 |
reimbursed
to the association by insurance proceeds, and, to the |
| 364 |
extent
the association has collected the cost of such repair or |
| 365 |
reconstruction
from the unit owner, the association shall |
| 366 |
reimburse
the unit owner without the waiver of any rights of |
| 367 |
subrogation. |
| 368 |
4. The
association shall not be obligated to pay for |
| 369 |
repair or
reconstruction or repairs of casualty losses as a |
| 370 |
common
expense where the casualty losses were known or should |
| 371 |
have been
known to a unit owner and were not reported to the |
| 372 |
association
until after the insurance claim of the association |
| 373 |
for that
casualty has been settled and resolved with finality or |
| 374 |
is
considered untimely filed by the insurer and denied on that |
| 375 |
basis. |
| 376 |
(k) An
association may, upon the approval of a majority of |
| 377 |
the total
voting interests in the association, opt out of the |
| 378 |
provisions
in paragraph (j) for the allocation of repair or |
| 379 |
reconstruction
expenses and allocate repair or reconstruction |
| 380 |
expenses
in the manner provided in the declaration as originally |
| 381 |
recorded
or as amended. Such vote may be approved by the voting |
| 382 |
interests
of the association without regard to any mortgagee |
| 383 |
consent
requirements. |
| 384 |
(l) In
a multicondominium association that has not |
| 385 |
consolidated
its financial operations under subsection (6), any |
| 386 |
condominium
operated by the association may opt out of the |
| 387 |
provisions
of paragraph (j) with the approval of a majority of |
| 388 |
the total
voting interests in that condominium. Such vote may be |
| 389 |
approved
by the voting interests without regard to any mortgagee |
| 390 |
consent
requirements. |
| 391 |
(m) Any
association or condominium voting to opt out of |
| 392 |
the
guidelines for repair or reconstruction expenses in |
| 393 |
paragraph
(j) must record a notice setting forth the date of the |
| 394 |
opt out
vote and the official records book and page at which the |
| 395 |
declaration
is recorded. The opt out shall be effective upon the |
| 396 |
date of
recording of the notice in the public records by the |
| 397 |
association.
An association that has voted to opt out of |
| 398 |
paragraph
(j) may reverse that decision by the same vote |
| 399 |
required
under paragraphs (k) and (l), and notice thereof shall |
| 400 |
be
recorded in the official records. |
| 401 |
(n) The
association shall not be obligated to pay for any |
| 402 |
reconstruction
or repair expenses due to casualty loss to any |
| 403 |
improvements
installed by a current or former owner of the unit |
| 404 |
or by the
developer where the improvement benefits only the unit |
| 405 |
for which
it was installed and is not part of the standard |
| 406 |
improvements
installed by the developer on all units as part of |
| 407 |
original
construction, whether or not such improvement is |
| 408 |
located
within the unit, except to the extent of any insurance |
| 409 |
recovery
specifically for any such improvements. Therefore,
the |
| 410 |
Legislature
requires a report to be prepared by the Office of |
| 411 |
Insurance
Regulation of the Department of Financial Services for |
| 412 |
publication
18 months from the effective date of this act, |
| 413 |
evaluating
premium increases or decreases for associations, unit |
| 414 |
owner
premium increases or decreases, recommended changes to |
| 415 |
better
define common areas, or any other information the Office |
| 416 |
of
Insurance Regulation deems appropriate. |
| 417 |
(a) A
unit-owner controlled association operating a |
| 418 |
residential
condominium shall use its best efforts to obtain and |
| 419 |
maintain
adequate insurance to protect the association, the |
| 420 |
association
property, the common elements, and the condominium |
| 421 |
property
required to be insured by the association pursuant to |
| 422 |
paragraph
(b). If the association is developer controlled, the |
| 423 |
association
shall exercise due diligence to obtain and maintain |
| 424 |
such
insurance. Failure to obtain and maintain adequate |
| 425 |
insurance
during any period of developer control shall |
| 426 |
constitute
a breach of fiduciary responsibility by the |
| 427 |
developer-appointed
members of the board of directors of the |
| 428 |
association,
unless said members can show that despite such |
| 429 |
failure,
they have exercised due diligence. The declaration of |
| 430 |
condominium
as originally recorded, or amended pursuant to |
| 431 |
procedures
provided therein, may require that condominium |
| 432 |
property
consisting of freestanding buildings where there is no |
| 433 |
more than
one building in or on such unit need not be insured by |
| 434 |
the
association if the declaration requires the unit owner to |
| 435 |
obtain
adequate insurance for the condominium property. An |
| 436 |
association
may also obtain and maintain liability insurance for |
| 437 |
directors
and officers, insurance for the benefit of association |
| 438 |
employees,
and flood insurance for common elements, association |
| 439 |
property,
and units. Adequate insurance, regardless of any |
| 440 |
requirement
in the declaration of condominium for coverage by |
| 441 |
the
association for "full insurable value," "replacement
cost," |
| 442 |
or the
like, may include reasonable deductibles as determined by |
| 443 |
the board
based upon available funds or predetermined assessment |
| 444 |
authority
at the time that the insurance is obtained. |
| 445 |
1. Windstorm
insurance coverage for a group of no fewer |
| 446 |
than
three communities created and operating under this chapter, |
| 447 |
chapter
719, chapter 720, or chapter 721 may be obtained and |
| 448 |
maintained
for the communities if the insurance coverage is |
| 449 |
sufficient
to cover an amount equal to the probable maximum loss |
| 450 |
for the
communities for a 250-year windstorm event. Such |
| 451 |
probable
maximum loss must be determined through the use of a |
| 452 |
competent
model that has been accepted by the Florida Commission |
| 453 |
on
Hurricane Loss Projection Methodology. Such insurance |
| 454 |
coverage
is deemed adequate windstorm insurance for the purposes |
| 455 |
of this
section. |
| 456 |
2. An
association or group of associations may self-insure |
| 457 |
against
claims against the association, the association |
| 458 |
property,
and the condominium property required to be insured by |
| 459 |
an
association, upon compliance with the applicable provisions |
| 460 |
of ss.
624.460-624.488, which shall be considered adequate |
| 461 |
insurance
for the purposes of this section. A copy of each |
| 462 |
policy of
insurance in effect shall be made available for |
| 463 |
inspection
by unit owners at reasonable times. |
| 464 |
(b) Every
hazard insurance policy issued or renewed on or |
| 465 |
after
January 1, 2004, to protect the condominium shall provide |
| 466 |
primary
coverage for: |
| 467 |
1. All
portions of the condominium property located |
| 468 |
outside
the units; |
| 469 |
2. The
condominium property located inside the units as |
| 470 |
such
property was initially installed, or replacements thereof |
| 471 |
of like
kind and quality and in accordance with the original |
| 472 |
plans and
specifications or, if the original plans and |
| 473 |
specifications
are not available, as they existed at the time |
| 474 |
the unit
was initially conveyed; and |
| 475 |
3. All
portions of the condominium property for which the |
| 476 |
declaration
of condominium requires coverage by the association. |
| 477 |
|
| 478 |
Anything
to the contrary notwithstanding, the terms "condominium |
| 479 |
property,"
"building," "improvements," "insurable
improvements," |
| 480 |
"common
elements," "association property," or any other term |
| 481 |
found in
the declaration of condominium which defines the scope |
| 482 |
of
property or casualty insurance that a condominium association |
| 483 |
must
obtain shall exclude all floor, wall, and ceiling |
| 484 |
coverings,
electrical fixtures, appliances, air conditioner or |
| 485 |
heating
equipment, water heaters, water filters, built-in |
| 486 |
cabinets
and countertops, and window treatments, including |
| 487 |
curtains,
drapes, blinds, hardware, and similar window treatment |
| 488 |
components,
or replacements of any of the foregoing which are |
| 489 |
located
within the boundaries of a unit and serve only one unit |
| 490 |
and all
air conditioning compressors that service only an |
| 491 |
individual
unit, whether or not located within the unit |
| 492 |
boundaries.
The foregoing is intended to establish the property |
| 493 |
or
casualty insuring responsibilities of the association and |
| 494 |
those of
the individual unit owner and do not serve to broaden |
| 495 |
or extend
the perils of coverage afforded by any insurance |
| 496 |
contract
provided to the individual unit owner. Beginning |
| 497 |
January
1, 2004, the association shall have the authority to |
| 498 |
amend the
declaration of condominium, without regard to any |
| 499 |
requirement
for mortgagee approval of amendments affecting |
| 500 |
insurance
requirements, to conform the declaration of |
| 501 |
condominium
to the coverage requirements of this section. |
| 502 |
(c) Every
hazard insurance policy issued or renewed on or |
| 503 |
after
January 1, 2004, to an individual unit owner shall provide |
| 504 |
that the
coverage afforded by such policy is excess over the |
| 505 |
amount
recoverable under any other policy covering the same |
| 506 |
property.
Each insurance policy issued to an individual unit |
| 507 |
owner
providing such coverage shall be without rights of |
| 508 |
subrogation
against the condominium associ |