Sec. 11C-22. Reserve funds.
Montgomery County, Md., Code § 11C-22 (2026)
Sec. 11C-22. Reserve funds.LinkCopy Citation
Each year that a developer is in control of a cooperative, the developer must:
(a)
Prepare a written budget that includes a reserve fund large enough to pay for deferred maintenance, repairs, and replacement of cooperative property under a reasonable estimate of the useful life of property components; and
(b)
Contribute to the reserve fund for each membership the developer owns or controls.