Question:
Several of our reserve funds were fully funded.
The manager said they could be zeroed out for future deposits to that specific fund, and those monies reallocated to other areas.
Not enough votes were made by owners.
We just got our new coupon books, which showed those three funds were zeroed out, and those monthly reserve funds are now allocated into other budget or reserve areas.
Is this legal? I don't find anything in the statutes or the FL budget and reserve workbook. Everything says you have to have a majority vote.
Answers (5)
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