Cal. Prob. Code §15000
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California Trust Law — Applicability
The opening section of the California Trust Law (Probate Code §§15000–19403). Defines the scope of California's adoption of trust principles based on the Restatement (Second) of Trusts and the Uniform Trust Code. Applicable to community associations primarily where reserve funds are held by an institutional trustee under an express trust agreement, or where an HOA-affiliated entity holds property in trust for unit owners.
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Statutory Text
Verified Aug 5, 2026 · CA_LEG_INFO
Probate Code - PROB DIVISION 9. TRUST LAW [15000 - 19530] ( Division 9 enacted by Stats. 1990, Ch. 79. ) PART 1. GENERAL PROVISIONS [15000 - 15004] ( Part 1 enacted by Stats. 1990, Ch. 79. ) 15000. This division shall be known and may be cited as the Trust Law. (Enacted by Stats. 1990, Ch. 79.)
Financial
| Ref | Requirement |
|---|---|
| (a) | Some California HOAs (particularly larger or sophisticated condo associations) hold reserve funds in a trust account with a bank or trust company acting as trustee. Those arrangements are governed by California Trust Law, which imposes fiduciary duties on the trustee independent of the HOA's own obligations. |
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Legal references last verified July 4, 2026.
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