{"data":{"id":"us-ky/krs-381.890","jurisdiction":"us-ky","citation":"KRS 381.890","heading":"Destruction -- Reconstruction.","body":"(1) In case of fire or other destruction or damage the regime's insurance indemnity,\nexcept as provided in subsection (3) of this section, shall be applied to reconstruct\nand repair the common elements affected.\n(2) Where the destruction and damage is not ins ured or where the insurance indemnity\nis not sufficient to cover the cost of reconstruction or repair, the cost (or added cost)\nshall be paid by the co-owners as a common expense, the council by a majority vote\nbeing authorized to borrow funds therefor and  to amortize the repayment of same\nover a period of time, not exceeding the reasonable life of the reconstruction or\nrepairs.\n(3) Reconstruction shall not be compulsory where two -thirds (2/3) or more of a\nbuilding is destroyed provided there are provision s in the master deed or bylaws of\nthe regime making adequate provision for reasonable compensation to those co -\nowners who are deprived of their interest as the result of the failure to reconstruct\nand further providing for the recalculation and redistribut ion of the percentage of\ncommon interest.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35515","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:11Z","sha256":"ee0dbc962c9cb354088a323a2afe370cac4121a9d36d81be9fccd9275989793a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.885","next":"us-ky/krs-381.895"},"notice":"GroundRules: Original legal text. Not legal advice."}