Included within an association’s annual budget report is a reserve summary that is prepared pursuant to Civil Code Section 5565. (Civ. Code § 5300(b)(2).) General Requirements Pursuant to Civil Code Section 5565, the reserve summary (1) must be based on the association’s most recent reserve study, (2) must be based only on assets held in […]| FindHOALaw
Subject to certain limited exceptions, every association is required to prepare a reserve study at least once every three (3) years with a review to be conducted annually to determine if adjustments are necessary to the association’s reserve account requirements. (Civ. Code §§ 5300(b), 5550(a).) One item of information that must be included within a […]| FindHOALaw
Homeowners Association (HOA) requirements to disclose information regarding the HOA's reserve account. California Davis-Stirling Act| FindHOALaw
Regular Assessments Regular assessments (aka “dues”) are the assessments which must be paid by the owner of each separate interest to the association every year, often on a monthly basis. The level of regular assessments is determined by the funds required to meet the association’s annual operating expenses. Regular assessments may be increased over time […]| FindHOALaw
A homeowners association (HOA) is required to provide its members with information regarding the HOA's insurance policies. California Davis-Stirling Act| FindHOALaw
Methods of delivery of documents and notices from a homeowners association (HOA) to its members. Davis-Stirling Act.| FindHOALaw
A homeowners association (HOA) is required to maintain minimum levels of general liability insurance to protect the HOA's members. Davis-Stirling Act.| FindHOALaw
Davis-Stirling Act | Civ. Code § 5570 - Statutory form used by homeowners association (HOA) to disclose information regarding the HOA's reserve account.| FindHOALaw
Davis-Stirling Act | Civ. Code § 5565 - The summary of a homeowners association (HOA) reserve funds must be based on the most recent HOA reserve study.| FindHOALaw
Davis-Stirling Act | Civ. Code § 5560 - A homeowners association (HOA) reserve funding plan must include a schedule of anticipated assessment increases.| FindHOALaw
Davis-Stirling Act | Civ. Code § 5320 - Required methods of delivery for homeowners association (HOA) annual budget reports and annual policy statements.| FindHOALaw
Davis-Stirling Act | Civ. Code § 5300 - A homeowners association (HOA) is required to prepare and distribute an annual budget report to the HOA's members.| FindHOALaw
Authority to Obtain Loan A HOA’s authority to obtain a loan (borrow money) is generally contained within the provisions of its governing documents—typically its CC&Rs or bylaws. Where such provisions are absent, the authority to obtain a loan is found in Corporations Code Section 7140(i). Section 7140(i) allows corporations to borrow money, subject to any […]| FindHOALaw
A homeowners association (HOA) must distribute to its members an annual policy statement containing information about the HOA's policies. Davis-Stirling Act| FindHOALaw
Davis-Stirling Act | Civ. Code § 5550 - A homeowners association (HOA) is required to prepare a reserve study to determine the HOA's reserve funding needs.| FindHOALaw
