Rhode Island Real Estate Time-Share Act
Management of the Time-Share Property
R.I. Gen. Laws § 34-41-3.09
§ 34-41-3.09. Surplus funds.
Unless otherwise provided in the time-share instrument, any surplus funds derived from the time-share owners or from property belonging to them or their association and held by a managing entity remaining after payment of or provision for time-share expenses and any pre-payment of reserves must be paid to the time-share owners in proportion to their time-share expense liabilities or credited to them to reduce their future time-share expense assessments.
History of Section.
P.L. 1984, ch. 141, § 2.