The Condominium Property Act units out the rules for operating and managing condominiums in New Brunswick. For purposes of this subsection, the time period “fiduciary insurance coverage” shall be defined as both a constancy bond and administrators and officers liability protection, the constancy bond within the full amount of affiliation funds and affiliation reserves that will be within the custody of the affiliation, and the administrators and officers liability protection at a degree as shall be determined to be reasonable by the board of managers, if not in any other case established by the declaration or by legal guidelines.
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