Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 107 - RULES RELATING TO HORIZONTAL PROPERTY REGIMES, CHAPTER 514A, HAWAII REVISED STATUTES
Subchapter 6 - REQUIREMENTS FOR REPLACEMENT RESERVES
Section 16-107-68 - Contingency reserves
Universal Citation: HI Admin Rules 16-107-68
Current through February, 2024
Nothing in this subchapter shall prohibit the establishment of a contingency reserve in compliance with this section. Unless a project's declaration or an association's bylaws provide otherwise, the board of directors may establish a contingency reserve in an amount the board considers appropriate, based on: the age of the project; its maintenance history; plans for additions or improvements to the project; or any other factors the board deems relevant. The contingency reserve shall be subject to all the requirements relating to reserves except the requirements of sections 16-107-63, 16-107-64, 16-107-65, 16-107-66(c) and (d), 16-107-67, and 16-107-69.
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