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CALIFORNIA CIVIL CODE 2007
SECTION 1365.5 (d)
Using Reserve Funds for Litigation
(d) When the decision is made to use reserve funds or totemporarily
transfer money from the reserve fund to pay for litigation,
the association shall notify the members of the association
of that decision in the next available mailing to all members
pursuant to Section 5016 of the Corporations Code, and of
the availability of an accounting of those expenses. Unless
the governing documents impose more stringent standards, the
association shall make an accounting of expenses related to
the litigation on at least a quarterly basis. The accounting
shall be made available for inspection by members of the association
at the association's office.
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