70-23-612. Insurance of building -- premiums as common expenses. (1) The manager as trustee for the unit owners shall, if required by the declaration, the bylaws, or by a majority of the unit owners, insure the building against loss or damage by fire and such other hazards as shall be required, without prejudice to the right of each unit owner to insure his own unit for his own benefit.
     (2) The premiums for such insurance on the building are common expenses.

     History: En. Sec. 31, Ch. 120, L. 1965; R.C.M. 1947, 67-2331.