California · Financial Code

FIN §7720: (a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale.

What this law says, in plain English

Associations may invest in tangible personal property such as vehicles, mobilehomes, machinery, equipment, or furniture, and may hold such property for rental or sale.

Read the full statutory text

(a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale. (b) Investment under this section is limited to not in excess of 10 percent of the total assets of the association.

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