Kentucky Revised Statutes Title XXXII. Ownership and Conveyance of Property § 381.790.Budget; assessments; insurance; financial records

(a) Annually adopt and amend a budget for revenues and expenditures. The budget may include reserves to fund the future repair and replacement of capital goods in the normal course of operations; and

(b) Collect assessments for common expenses from the owners in accordance with KRS 381.797.

(a) Property insurance on the common areas insured for replacement cost;

(b) Liability insurance for the common areas; and

(c) Other insurance as required by the declaration or bylaws.

(a) A complete set of financial records in accordance with KRS 381.794;

(b) Records showing the payment for common expenses and other charges received from the owners;

(c) Records detailing and supporting the payment for common expenses and other charges paid to contractors, suppliers, and service providers;

(d) Meeting minutes for the association and the board; and

(e) Records of the names and mailing addresses of the owners. The owners shall maintain their current mailing address and contact information with the secretary of the association.