In case of fire or any other disaster, the insurance proceeds, if sufficient to reconstruct the building, shall be applied to such reconstruction. Reconstruction of the building, as used in this section and Section 57-8-31, means restoring the building to substantially the same condition in which it existed prior to the fire or other disaster, with each unit and the common elements having the same vertical and horizontal boundaries as before.
Utah Code § 57-8-30
Application of insurance proceeds to reconstruction
Known as the Condominium Ownership Act
The act spans §§ 57–57 (81 sections).
Enacted by Chapter 111, 1963 General Session
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.