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 reserves shall be paid annually to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
Conn. Gen. Stat. § 47-256
Surplus funds
Known as the Common Interest Ownership Act
The act spans §§ 47–47 (112 sections).
(P.A. 83-474, S. 57, 96; P.A. 09-225, S. 30.) History: P.A. 09-225 inserted “annually” re payment of surplus funds, effective July 1, 2010.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.