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§5551 - Inspection of Exterior Elevated Elements

  1. For purposes of this section, the following definitions apply:
    1. “Associated waterproofing systems” include flashings, membranes, coatings, and sealants that protect the load-bearing components of exterior elevated elements from exposure to water.
    2. “Exterior elevated elements” mean the load-bearing components together with their associated waterproofing system.

How Can HOAs Use Reserve or Settlement Funds?

Boards in need of cash may want to use cash in the reserve accounts or from legal settlements, but there are important restrictions.

Planning and Paying for Major Reconstruction in Your HOA

Homeowner associations are tasked with maintaining the property of the community, and this often entails extensive reconstruction with hefty price tags. Learn how to manage your HOAs money to determine what financing options are available, and how to successfully plan and execute your next construction project. 

Borrowing From Reserves: How Healthy Is It?

The Truth Behind Borrowing from Reserves

§5580 - Community Service Organization Reporting

  1. Unless the governing documents impose more stringent standards, any community service organization whose funding from the association or its members exceeds 10 percent of the organization's annual budget shall prepare and distribute to the association a report that meets the requirements of Section 5012 of the Corporations Code, and that describes in detail administrative costs and identifies the payees of those costs in a manner consistent with the provisions of Article 5 (commencing with Section 5200) of Chapter 6.

§5570 - Reserve Disclosure Form

(a) The disclosures required by this article with regard to an association or a property shall be summarized on the following form:

Assessment and Reserve Funding Disclosure Summary For the Fiscal Year Ending _____

  1. The regular assessment per ownership interest is $_____ per____. Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page _____ of the attached summary.

§5565 - Reserves Summary Requirements

The summary of the association's reserves required by §5300(b)(2) shall be based on the most recent review or study conducted pursuant to §5550, shall be based only on assets held in cash or cash equivalents, shall be printed in boldface type, and shall include all of the following:

§5560 - Adoption and Change in Assessments

  1. The reserve funding plan required by Section 5550 shall include a schedule of the date and amount of any change in regular or special assessments that would be needed to sufficiently fund the reserve funding plan.
  2. The plan shall be adopted by the board at an open meeting before the membership of the association as described in Article 2 (commencing with Section 4900) of Chapter 6.

§5520 - Litigation

  1. When the decision is made to use reserve funds or to temporarily transfer moneys from the reserve fund to pay for litigation pursuant to subdivision (b) of Section 5510, the association shall provide general notice pursuant to Section 4045 of that decision, and of the availability of an accounting of those expenses.


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