§ 64.34.384. Reserve account -- Withdrawals
An association may withdraw funds from its reserve account to pay for unforeseen or unbudgeted costs. The board of directors shall record any such withdrawal in the minute books of the association, cause notice of any such withdrawal to be hand delivered or sent prepaid by first-class United States mail to the mailing address of each unit or to any other mailing address designated in writing by the unit owner, and adopt a repayment schedule not to exceed twenty-four months unless it determines that repayment within twenty-four months would impose an unreasonable burden on the unit owners.
[2008 c 115 § 3.]Sections: Previous 64.34.360 64.34.364 64.34.368 64.34.372 64.34.376 64.34.380 64.34.382 64.34.384 64.34.386 64.34.388 64.34.390 64.34.400 64.34.405 64.34.410 64.34.415 Next
Last modified: April 7, 2009