California Statutes
§ 4177. — 4177. (Added by Stats. 2012, Ch. 180, Sec. 2.)
California·Code CIV Civil Code - CIV·Div. 4. DIVISION 4. GENERAL PROVISIONS·Part 5. PART 5. Common Interest Developments·Ch. 1. CHAPTER 1. General Provisions·Art. 2. ARTICLE 2. Definitions
“Reserve accounts” means both of the following:
(a)Moneys that the board has identified for use to defray the future repair or replacement of, or additions to, those major components that the association is obligated to maintain.
(b)The funds received, and not yet expended or disposed of, from either a compensatory damage award or settlement to an
association from any person for injuries to property, real or personal, arising from any construction or design defects. These funds shall be separately itemized from funds described in subdivision (a).
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California § 4177. (4177. (Added by Stats. 2012, Ch. 180, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.