Sections
6 entriesSection 5550Requires the board, when major-component replacement value meets the stated budget threshold, to conduct a competent visual reserve inspection at least every…Section 5551Requires condominium associations to inspect a statistically significant sample of responsible exterior elevated elements every nine years; covered load-bearing surfaces exceed six…Section 5560Requires the reserve funding plan to schedule the date and amount of any regular or special assessment changes needed to fund reserves…Section 5565Requires the reserve summary to use the most recent review/study, only cash or cash equivalents, and boldface, stating component costs/lives, necessary and…Section 5570Requires the assessment and reserve funding disclosures to use the prescribed summary covering scheduled assessments, 30-year reserve sufficiency, additional needed contributions, current…Section 5580Requires a community service organization receiving more than 10% of its annual budget from an association or its members, unless governing documents…