In case of fire or any other disaster, the insurance indemnity must, except as provided in the following paragraph, be applied to reconstruct the building or other structure.

Reconstruction is not compulsory where it comprises the whole or more than two-thirds of the property. In this case, and unless otherwise unanimously agreed upon by the co-owners, the indemnity must be delivered pro rata to the co-owners entitled to it in accordance with provision made in the bylaws or in accordance with a decision of three-fourths of the co-owners if there is no bylaw provision.

Should it be proper to proceed with the reconstruction, the provisions for this eventuality made in the bylaws shall be observed, or, in lieu thereof, the decision of the council of co-owners shall prevail.