reserve fund


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reserve fund

n. a fund of money created to take care of maintenance, repairs or unexpected expenses of a business or a multi-unit housing development (often condominiums or a housing cooperative) operated by a homeowners association or other governing body. Most states require that homeowners associations maintain such a fund.

References in periodicals archive ?
To ensure fairness, where possible, all owners and occupiers - both current and future - should contribute to the reserve fund equitably.
Sponsors must provide a reserve fund in an amount no less than three percent of the total price of all of the units offered for sale, specifically, "[t]he sum of the cost of all units in the offering at the last price which was offered to tenants in occupancy prior to the effective date of the plan regardless of number of sales made.
They are, in most cases, probably shy of security, which is where the loan-loss reserve fund comes into play.
Fitch analyzes the default tolerance of Maine HHEFA's portfolio using a stress test that considers credit quality, single-risk concentration, reserve fund size, debt service requirements, and historical default and recovery rates for health care and higher educational facilities.
Supporters said they think the reserve fund issue alone would not keep cityhood off the ballot, while city officials and other opponents said it calls into question the strength and viability of a Valley city.
Donations to the diocese's reserve fund can be mailed to: Agricultural Crisis Reserve Fund, Diocese of Brandon, Box 21009, WEPO, Brandon, Man.
The authority's total reserve fund balances including the general reserve and consolidated bond reserve fund are estimated to have increased by 11% to $1.
It was always our intent that these funds, if needed, come from the reserve fund,'' Riordan said.
As subordinate lien bonds matured, and the related reserve fund requirement declined, the authority expected to recover these balances.
5 million in reserve funds to bond investors and sets up provisions for paying investors if money comes in in the future.
7% for the next four years, and no action is taken by the state to replenish the reserve fund.
It is Fitch's view that the sufficiency of the reserve fund results in a long-term credit risk to bondholders that depends solely on UBS' obligation to make a final termination payment.

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