- Alaska Statutes.
- Title 34. Property
- Chapter 7. Horizontal Property Regimes Act
- Section 400. Insurance of Property.
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AS 34.07.400. Insurance of Property.
- (a) A manager or board of directors, if required by the declaration, bylaws, or by a majority of the apartment owners, or
if requested by a mortgagee or trustee having a mortgage or a deed of trust of record covering an apartment, shall
obtain insurance for the property against loss or damage by fire and other hazards under the terms and amounts required
- (b) The insurance coverage shall be written on the property in the name of the manager or of the board of directors of the
association of apartment owners, as trustee for each of the apartment owners in the percentages established by the
- (c) Premiums for insurance coverage secured under (a) of this section are a common expense.
- (d) Provision for insurance under this section does not prejudice the right of an apartment owner to insure the owner's
apartment or the personal contents in it.
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