An association:
(1) shall keep all of the association's funds in an account in the name of the association; and
(2) may not commingle the association's funds with the funds of any other person.
Enacted 2018, ch. 395, eff. May 8, 2018.
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- Community Ass'n Act
- 57-8a-230. Administration of funds
Community Association Act
57-8a-230. Administration of funds
Cross-references (statutes with similar tags)
- 57-8a-211. Reserve analysis -- Reserve fund
- 57-8a-215. Budget
- 57-8a-226. Board meetings -- Open Meetings
- 57-8a-227. Records -- Availability for examination
- 57-8a-105. Registration with Department of Commerce
- 16-6a-701. Annual and regular meetings
- 16-6a-704. Notice of meeting
- 16-6a-710. Members' list for meeting and action by written ballot
- 57-8a-403. Property and liability insurance required -- Notice if insurance not reasonably available
- 57-8a-405. Property insurance
- 57-8a-212. Content of a declaration
- 57-8a-216. Association bylaws -- Recording required -- Bylaw requirement