Section 39 in Maharashtra Apartment Ownership Rules, 1972
39. Assessments. - All owners are obliged to pay monthly assessments imposed by the Association to meet all expenses relating to the........ Condominium, which may include an insurance premium for a policy to cover repair and reconstruction work in case of hurricane, fire, earthquake or other hazard or calamity. The assessments shall be made pro-rata according to the value of the unit owned, as stipulated in the Declaration. Such assessments shall include monthly payments to a General Operating Reserve and a Reserve Fund for Replacements.
