California · Corporations Code
CORP §13328: An association may establish reserves and invest the funds thereof in bonds or in such other property as may be provided in the by-laws.
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What this law says, in plain English
An association may create financial reserves and invest those funds in bonds or other property as permitted by its bylaws.
Read the full statutory text
An association may establish reserves and invest the funds thereof in bonds or in such other property as may be provided in the by-laws.
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