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 ?
In the existing law, basic fees that shall accrue to the MWT Reserve Fund is pegged set at P0.05/MT of mine waste produced and P0.10/MT of mill tailings generated from the mining operations.
Lot 1 "development of a land management project for the organization and establishment of boundaries of the territory of the nature reserve fund of local importance on the territory of boguslavsky district (regional landscape park" boguslavl "), on the territory of volodarsky area (forest reserve of local significance" mikhailovskaya
Its reserve fund stood at P495.6 billion in end 2018.
aAfter two rounds of written defence statements, in December 2018, State General Reserve Fund has withdrawn its claims against Bulgaria without the possibility of bringing them again before this or another international tribunal,a the finance ministry said in a statement.
By the end of 2018, the township had $2,406,206 in its general assistance reserve fund, which amounts to nearly 2.8 times the
Muscat: Abdul Salam bin Mohammed Al Morshedi, CEO of the State General Reserve Fund (SGRF), said that SGRF has achieved the highest returns since its establishment 38 years ago.
The minister's report showed that revenues of the Future Generations Reserve Fund have, for the first time, exceeded oil contributions, which was welcomed by the Cabinet.
'This will double the actual solvency of PhilHealth's reserve fund from the current four years to eight and a half years,' Duque said.
The agency states that its request is "essentially flat compared to the FY 2017 level and contemplates continued access to the Commission's Reserve Fund" to fund long-term capital investments in information technology.
The AGM resolved that out of the loss of EUR336,419,172.22 related to the financial periods ended on or before 31 December 2016 (the loss of the financial period ended on 31 December 2016 being EUR236,496,663.78), as shown in the financial statements of the company as per 31 December 2016, a total amount of EUR233,487,815.06 be covered by reducing the unrestricted equity reserve, the share premium reserve, the reserve fund and the company's share capital.
Global Banking News-May 4, 2017--Malaysian central bank removes banks' reserve fund requirements
Rera requires the OA or the OA manager to set budgets and establish two separate funds - the general fund and the reserve fund, both contributed to by the owners through a service charge.

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