Civil Code Finances & Reserves
Reserve Funding Plan
Chapter 7 · Finances · Reserve Planning
Text current as of 2026-07-07 · Last amended by AB 805, eff. 2014-01-01
The code says CIV §5560
(a) The reserve funding plan required by Section 5550 shall include a schedule of the date and amount of any change in regular or special assessments that would be needed to sufficiently fund the reserve funding plan.
(b) The plan shall be adopted by the board at an open meeting before the membership of the association as described in Article 2 (commencing with Section 4900) of Chapter 6.
(c) If the board determines that an assessment increase is necessary to fund the reserve funding plan, any increase shall be approved in a separate action of the board that is consistent with the procedure described in Section 5605.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.)
How courts have read this
No case law is mapped to this section yet. As decisions are added, they’ll appear here.
Cites (3)
Cited by (1)
References whole articles
- Article 2 — Board Meeting (10 sections, commencing §4900)