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  •   «   Civil Code Section 5520. Reserve Funds for Litigation.
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Davis-stirling Act

Civil Code Section 5520. Reserve Funds for Litigation.

(a) 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.

(b) Unless the governing documents impose more stringent standards, the association shall make an accounting of expenses related to the litigation on at least a quarterly basis. The accounting shall be made available for inspection by members of the association at the association’s office.

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Related Topics

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

Related Statutes

  • Civil Code Section 5515. Transfer of Reserve Funds; Limitations and Requirements.
  • Civil Code Section 5510. Use of Reserve Funds; Withdrawal Requirements.
  • Civil Code Section 4045. General Delivery or Notice.

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Previous PostCivil Code Section 5515. Transfer of Reserve Funds; Limitations and Requirements.Next PostCivil Code Section 5550. Reserve Study Requirements.
  • 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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