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Law Guide

National Reserve Study Law Guide

FIND OUT MORE ABOUT YOUR STATE

Reserve Study laws vary considerably between States. The following information should be used as a starting point for understanding what is required by law within your State. Click on the flag for further information on the specific legislative requirements within your state.

The materials provided on this web site are for informational purposes only and are not for the purpose of providing legal advice. We recommend you consult a lawyer to obtain advice and professional assurance with respect to your own specific circumstances.

List of States

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State Legislation Alabama Uniform Condominium Act Reserve Study Required : N/A Reserve Funds Required : YES Our summary “An association needs to adopt and amend budgets for reserves. They need to collect assessments for common expenses and regulate the use, maintenance, repair and replacement of common elements.” – Reserve Study Group

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State Legislation Florida Condominium Act Florida Homeowners’ Associations Reserve Study Required : N/A Reserve Funds Required : YES Our summary “In addition to annual operating expenses, an Association’s annual budget shall include reserve accounts for capital expenditures and deferred maintenance. Associations need to disclose the level of reserve fund contributions (reserve accumulated) and the amount spent on capital expenditures, deferred maintenance, and any other category for which they maintain reserves. “ – Reserve Study Group

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State Legislation Georgia Condominium Act Georgia Property Owners Association Act Reserve Study Required : N/A Reserve Funds Required : NO Our summary “There are currently no state requirements. State statutes do not mention the need for either a reserve fund or reserve study.” – Reserve Study Group