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32-25-2-5. "Common expenses"

IN Code § 32-25-2-5 (2019) (N/A)
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Sec. 5. "Common expenses" means:

(1) all sums lawfully assessed against the co-owners by the association of co-owners;

(2) expenses of:

(A) administration;

(B) maintenance;

(C) repair; or

(D) replacement;

of the common areas and facilities;

(3) expenses agreed upon as common expenses by the association of co-owners; and

(4) expenses declared common expenses by:

(A) this article;

(B) the declaration; or

(C) the bylaws.

[Pre-2002 Recodification Citation: 32-1-6-2(i).]

As added by P.L.2-2002, SEC.10. Amended by P.L.2-2005, SEC.84.

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32-25-2-4. "Common areas and facilities"
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32-25-2-6. "Common profits"