A HOA board’s failure to properly fund a reserve account constituted a breach of their fiduciary duties to the HOA and its members.| FindHOALaw
Legal requirements governing the common area maintenance responsibilities of a homeowners association (HOA). California Davis-Stirling Act - Section 4775| FindHOALaw
Except as provided below, all associations are 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).) Once the study is completed, the study is used to prepare […]| FindHOALaw