California Codes, Civil Code - CIV, Division 4 — General Provisions, Part 5 — Common Interest Developments, Chapter 7 — Finances, Article 2 — Use of Reserve Funds, Section 5510
(a) The signatures of at least two persons, who shall be directors, or one officer who is not a director and one who is a director, shall be required for the withdrawal of moneys from the association’s reserve accounts.
(b) The board shall not expend funds designated as reserve funds for any purpose other than the repair, restoration, replacement, or maintenance of, or litigation involving the repair, restoration, replacement, or maintenance of, major components that the association is obligated to repair, restore, replace, or maintain and for which the reserve fund was established.
Notes
Requires at least two signatures to withdraw reserve-account money, from two directors or from one director and one officer who is not a director. Reserve funds may be spent only for repair, restoration, replacement, maintenance, or related litigation involving major components the association must maintain and for which the reserve was established.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 5510 | https://laws.lexinter.net/codes/california/civil-code/division-4/part-5/chapter-7/article-2/section-5510