Question:
As a COA, we have a reserve fund designated to replace our 40 year old sewer system.
One member has stated that since we have this money in reserves, we aren't allowed to raise the monthly maintenance fee.
My understanding is if the reserves are designated for a specific item, it can only be used for that item.
Answers (7)
What are your thoughts on this topic?
Comments and postings are not legal advice, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other.