N.C. Gen. Stat. » Chapter 47A
NC General Statutes

N.C. Gen. Stat. § 47A-24 (2026)

Insurance on property; right to insure units

✓ current as of July 2026
Find cases: SyfertCases citing this section NCLEGncleg.gov (official) JustiaChapter 47A CornellLII Search CasesGoogle Scholar

The manager of the board of directors, or other managing body, if required by the declaration, bylaws or by a majority of the unit owners, shall have the authority to, and shall, obtain insurance for the property against loss or damage by fire and such other hazards under such terms and for such amounts as shall be required or requested. Such insurance coverage shall be written on the property in the name of such manager or of the board of directors of the association of unit owners, as trustee for each of the unit owners in  the percentages established in the declaration. The trustee so named shall have the authority on behalf of the unit owners to deal with the insurer in the settlement of claims. The premiums for such insurance on the building shall be deemed common expenses. Provision for such insurance shall be without prejudice to the right of each unit owner to insure his own unit for his benefit. (1963, c. 685, s. 24.)

 

Notes of Decisions
Cited in 2 cases (2 in the last 5 years), 2022–2022 · leading case: Grooms Prop. Mgmt. (N.C. Ct. App. 2022).
Sort: Relevance Newest Treatment
Grooms Prop. Mgmt. (N.C. Ct. App. 2022). · cites it 7× “¶ 13 Section 47A-24, in relevant part, requires condominium associations to, “if required by the declaration, bylaws or by a majority of the unit owners, .”
Grooms Prop. Mgmt. (N.C. Ct. App. 2022). · cites it 7× “¶ 13 Section 47A-24, in relevant part, requires condominium associations to, “if required by the declaration, bylaws or by a majority of the unit owners, .”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.