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  •   «   Civil Code Section 4177. “Reserve Accounts” Defined.
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Davis-stirling Act

Civil Code Section 4177. “Reserve Accounts” Defined.

“Reserve accounts” means both of the following:

(a) Moneys that the board has identified for use to defray the future repair or replacement of, or additions to, those major components that the association is obligated to maintain.

(b) The funds received, and not yet expended or disposed of, from either a compensatory damage award or settlement to an association from any person for injuries to property, real or personal, arising from any construction or design defects. These funds shall be separately itemized from funds described in subdivision (a).

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Related Topics

  • Reserve Account (Generally)
  • Borrowing Reserve Funds (Reserve Transfers)
  • Reserve Account Expenditures
  • Reserve Account Required

Related Statutes

  • Civil Code Section 5550. Reserve Study Requirements.
  • Civil Code Section 5515. Transfer of Reserve Funds; Limitations and Requirements.
  • Civil Code Section 5510. Use of Reserve Funds; Withdrawal Requirements.
  • Civil Code Section 4178. “Reserve Account Requirements” Defined.

Related Case Law

  • Raven’s Cove Townhomes, Inc. v. Knuppe Development Co.
    (1981) 114 Cal.App.3d 783

    [Fiduciary Duties; Reserve Account] A HOA board’s failure to properly fund a reserve account constituted a breach of their fiduciary duties to the HOA and its members.

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Previous PostCivil Code Section 4175. “Planned Development” Defined.Next PostCivil Code Section 4178. “Reserve Account Requirements” Defined.
  • Davis-Stirling Act
  • Chapter 1. General Provisions
  • Chapter 2. Application of Act
  • Chapter 3. Governing Documents
  • Chapter 4. Ownership & Transfer of Interests
  • Chapter 5. Property Use & Maintenance
  • Chapter 6. Association Governance
  • Chapter 7. Finances
  • Chapter 8. Assessments & Assessment Collection
  • Chapter 9. Insurance & Liability
  • Chapter 10. Dispute Resolution & Enforcement
  • Chapter 11. Construction Defect Litigation
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