25 Del. C. §81-315
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DUCIOA — Reserves for Capital Expenditures and Major Maintenance
Mandates reserve studies for condominiums and cooperatives (not explicitly for planned communities). A reserve study must be current (performed or updated within the last 5 years). When no current study exists, minimum reserve contributions are required: 15 percent of annual budget (4+ major systems), 10 percent (3 systems), or 5 percent (2 or fewer). Major systems include roofs, windows, exterior walls, elevators, HVAC, pools, and parking garages.
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Reserves
| Ref | Requirement |
|---|---|
| When no current study exists, minimum reserve contributions are required: 15 percent of annual budget (4+ major systems), 10 percent (3 systems), or 5 percent (2 or fewer). | |
| Performed or updated within the last five years | |
| Mandates reserve studies for condominiums and cooperatives (not explicitly for planned communities). | |
| Major systems include roofs, windows, exterior walls, elevators, HVAC, pools, and parking garages. | |
| A reserve study must be current (performed or updated within the last 5 years). |
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