Haw. Code R. § 16-107-68
Current through November, 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.
Haw. Code R. § 16-107-68