California Codes, Civil Code - CIV, Division 4 — General Provisions, Part 5 — Common Interest Developments, Chapter 1 — General Provisions, Article 2 — Definitions, Section 4178
“Reserve account requirements” means the estimated funds that the board has determined are required to be available at a specified point in time to repair, replace, or restore those major components that the association is obligated to maintain.
Notes
Defines reserve account requirements as the estimated funds the board determines must be available at a specified time to repair, replace, or restore major components the association is obligated to maintain. The definition therefore combines the board’s estimate, the timing of required availability, and the association’s maintenance responsibility for those major components.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 4178 | https://laws.lexinter.net/codes/california/civil-code/division-4/part-5/chapter-1/article-2/section-4178