Earlier quoted context omitted.
It should be but is it? I don't think anyone ever tested this building, which has a combined market value of probably close to $200M. None of the owners want to know that their investments are worthless. So nothing will be checked unless its required by law.
In Spain buildings older than 50 years are required to be inspected and mandated to make reforms if necessary. I doubt it's much different in the rest of Europe/north America Also, buildings don't fall all of sudden. You would get a lot of cracks and problems before your building collapses
They certainly do in earthquakes. Even in areas that nominally don’t have earthquakes, some parts of the building code will surely be about ability to withstand a rare earthquake.