448.130. Insurance proceeds used for reconstruction — reconstruction defined. — In case of fire or any other disaster the insurance proceeds, if sufficient to reconstruct the building, shall be applied to such reconstruction. "Reconstruction of the building", as used in this and section 448.140, means restoring the building to substantially the same condition in which it existed prior to the fire or other disaster, with each unit and the common elements having the same vertical and horizontal boundaries as before.
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(L. 1963 p. 648 § 13)
---- end of effective 28 Aug 1963 ----
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