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.
Donations to the diocese's reserve fund can be mailed to: Agricultural Crisis Reserve Fund, Diocese of Brandon, Box 21009, WEPO, Brandon, Man.

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