Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 707. Time-Share Ownership |
SubChapter III. MANAGEMENT OF TIME-SHARE PROPERTY |
Section 707.36. Disposition of surplus funds.
Latest version.
- Unless otherwise provided in the time-share instrument, any surplus funds derived from the time-share owners or from property belonging to the time-share owners or their association and held by a managing entity, which are remaining after payment of or provision for time-share expenses and any prepayment of reserves, shall be paid to the time-share owners in proportion to their time-share liabilities, credited to the owners to reduce their future time-share liabilities or used for any other purpose as the association decides.