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DIVISION 4. GENERAL PROVISIONS 3274-9566›PART 5. Common Interest Developments 4000-6150›CHAPTER 7. Finances 5500-5580›ARTICLE 1. Accounting 5500-5502

§ 5502

California Civil Code · 2020-11 edition · updated 2026-10-04 · California

Notwithstanding any other law, transfers of greater than ten thousand dollars ($10,000) or 5 percent of an association’s total combined reserve and operating account deposits, whichever is lower, shall not be authorized from the association’s reserve or operating accounts without prior written board approval. This section applies in addition to any other applicable requirements of this part.

(Amended by Stats. 2019, Ch. 497, Sec. 31. (AB 991) Effective January 1, 2020.)

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California Civil Code

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