Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of or provision for reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
C.R.S. § 38-33.3-314
Surplus funds
Known as the Colorado Common Interest Ownership Act
The act spans §§ 38-33.3-101 to 38-33.3-401 (81 sections).
Digitized from: Public.Law — Colorado Revised Statutes. Reproduced from public-domain Colorado statutes; confirm against the official source for the current text. Not legal advice.