California · Financial Code
FIN §6476: Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this division.
What this law says, in plain English
Associations must establish and maintain reserves as required by law, and may establish additional reserves as permitted.
Read the full statutory text
Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this division. The board of directors may make additional transfers to surplus or other reserve accounts.
Verify at the official source: California legislative text
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