Legislation

More than forty percent (40%) of all U.S. community associations reside in Florida and California alone.  In Florida (the top ranked state with the largest number of community associations), legislation mandates reserves for paint, pavement & roofs, and any other item with a current cost in excess of $10,000.  Legislation in California (the #2 ranked state with the largest number of community associations) mandates the board to conduct a reserve study with on-site visit that provides a condition assessment of all the accessible reserve components- at least every three years.

Current legislation affecting reserves nationwide is on the rise.  It is only a matter of time before legislation is introduced, passed and becomes law, mandating community associations to conduct a reserve study with funding methods/goals at least every few years.

NOTE-  The following tabular listing of legislation affecting reserves by state is only meant to serve as a guide in helping you obtain the latest version of this vital information.  Strategic Reserves strongly suggests verification of potential legislation affecting reserves in your state using other available resources (such as your local CAI Chapter or management company).  In the near future, a simple click on the applicable reserve legislation will send you directly (or close) to the government file(s) containing the document(s).  Please help us - to help you - obtain the most recent information available.  E-Mail any updates regarding this table- today!