Georgia 2025-2026 Regular Session

Georgia Senate Bill SB230 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	25 LC 46 1174S
2		-	The Senate Committee on Insurance and Labor offered the following
3		-	substitute to SB 230:
	1	+	25 LC 55 0489
	2	+	Senate Bill 230
	3	+	By: Senators Still of the 48th, Anavitarte of the 31st, Harbin of the 16th, Harbison of the 15th
	4	+	and Walker III of the 20th
4	5		A BILL TO BE ENTITLED
5	6		AN ACT
6		-	To amend Article 3 of Chapter 3 of Title 44 of the Official Code of Georgia Annotated,1
7		-	relating to condominiums, so as to increase the maximum amount of insurance deductibles2
8		-	payable by unit owners; to provide for notice; to provide for related matters; to repeal3
	7	+	To amend Article 3 of Chapter 3 of Title 44 of the Official Code of Georgia Annotated,
	8	+	1
	9	+	relating to condominiums, so as to remove the limitation on the maximum amount of2
	10	+	insurance deductibles payable by unit owners; to provide for related matters; to repeal3
9	11		conflicting laws; and for other purposes.4
10	12		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
11	13		SECTION 1.6
12	14		Article 3 of Chapter 3 of Title 44 of the Official Code of Georgia Annotated, relating to7
13	15		condominiums, is amended by revising Code Section 44-3-94, relating to damage or8
14	16		destruction of units, as follows:9
15	17		"44-3-94.10
16		-	~~(a)~~ Unless otherwise provided in the condominium instruments, in the event of damage ~~to11~~
17		-	or destruction of any unit by a casualty covered under insurance required to be ~~maintained12~~
18		-	by the association pursuant to Code Section 44-3-107, the association shall cause the ~~unit13~~
19		-	to be restored. Unless otherwise provided in the condominium instruments, any funds14
	18	+	Unless otherwise provided in the condominium instruments, in the event of damage to or11
	19	+	destruction of any unit by a casualty covered under insurance required to be maintained by12
	20	+	the association pursuant to Code Section 44-3-107, the association shall cause the unit to13
	21	+	be restored. Unless otherwise provided in the condominium instruments, any funds14
20	22		required for such restoration in excess of the insurance proceeds attributable thereto shall15
21	23		be paid by the unit owner of the unit; provided, however, that, in the event that the unit16
22		-	- 1 - 25 LC 46 1174S
23		-	owner of the unit together with the unit owners of other units to which two-thirds of the17
	24	+	S. B. 230
	25	+	- 1 - 25 LC 55 0489
	26	+	owner of the unit together with the unit owners of other units to which two-thirds of the
	27	+	17
24	28		votes in the association pertain agree not to restore the unit, the unit shall not be restored18
25	29		and the entire undivided interest in the common elements pertaining to that unit shall then19
26	30		pertain to the remaining units, to be allocated to them in proportion to their undivided20
27	31		interests in the common elements, and the remaining portion of that unit shall thenceforth21
28	32		be a part of the common elements. Votes in the association and liability for future common22
29	33		expenses shall thereupon pertain to the remaining units, being allocated to them in23
30	34		proportion to their relative voting strength in the association and liability for common24
31	35		expenses, respectively. To the extent provided for in the condominium instruments, the25
32	36		association may allocate equitably the payment of a reasonable insurance deductible26
33	37		between the association and the unit owners affected by a casualty against which the27
34		-	association is required to insure; provided, however, that the amount of deductible which28
35		-	can be allocated to any one unit owner shall not exceed $5,000.00 $25,000.00 per casualty29
36		-	loss covered under any insurance required to be maintained by the association under this30
37		-	article. The existence of a reasonable deductible in any required insurance policy shall not31
38		-	be deemed a failure to maintain insurance as required by this Code section.32
39		-	(b) Each association in this state shall timely notify all unit owners within such association33
40		-	of any material change in such association's master policy deductible. Such notification34
41		-	shall be in writing and accomplished by depositing the notice in the United States mail to35
42		-	be dispatched by at least first class mail to the address of record of the unit owner. Such36
43		-	notice may alternatively be delivered, with the unit owner's written consent, in person, or37
44		-	through electronic transmittal or facsimile."38
45		-	SECTION 2.39
46		-	All laws and parts of laws in conflict with this Act are repealed.40
	38	+	association is required to insure; provided, however, that the amount of deductible which
	39	+	28
	40	+	can be allocated to any one unit owner shall not exceed $5,000.00 per casualty loss covered29
	41	+	under any insurance required to be maintained by the association under this article. The30
	42	+	existence of a reasonable deductible in any required insurance policy shall not be deemed31
	43	+	a failure to maintain insurance as required by this Code section."32
	44	+	SECTION 2.33
	45	+	All laws and parts of laws in conflict with this Act are repealed.34
	46	+	S. B. 230
47	47		- 2 -