Wis. Stat. §703.163
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Condominium Ownership Act — Statutory Reserve Account
Provides for a statutory reserve account for condominiums. Associations for condominiums created before November 1, 2004 must establish a reserve account within 18 months of that date (or after declarant control ends), UNLESS the association, with written consent of a majority of unit votes, elects not to establish one. The annual budget must provide for reserve funds if a statutory reserve account exists. The reserve account statement must be recorded with the register of deeds.
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Statutory Text
Verified Aug 5, 2026 · OTHER
Wisconsin Legislature: 703.163 Home Documents Senate Assembly Committees Service Agencies Docs Options Help 2025 Biennium Statutes Admin. Rules Indices Miscellaneous Archives Home Bill, Rule, and Appointment Histories Senators Representatives Committees Text of Introduced Proposals Amendment Text Acts Veto Messages Enrolled Bills Votes Assembly and Senate Floor Calendars Schedule of Committee Activities Assembly and Senate Journals Committee Records (ROCPs) Legislative Rules All Session-Related Documents Subject Index to Acts Subject Index to Legislation Subject Index to Journals Author Index to Legislation Subject Index to Clearinghouse Rules Miscellaneous Budget Documents Executive Orders Rulings of the Chair Wisconsin Supreme Court Rules Opinions of the Attorney General Town Law Forms Law Districts Session Drafting Files Feeds Preferences Show tree Hide tree Feedback Help Home Senate Home Senators Committees Session Chief Clerk Sergeant at Arms Civics Education Human Resources Assembly Home Representatives Committees Session Chief Clerk Sergeant at Arms Human Resources Schedule Joint Senate Assembly Study Legislative Audit Bureau Legislative Council Legislative Fiscal Bureau Legislative Human Resources Office Legislative Reference Bureau Legislative Technology Services Bureau Up Up 703.155(4) (4) Liability limited. If a declaration provides that the executive board may delegate certain powers to a master association, the members of the executive board have no liability for the acts or omissions of the master association with respect to the exercise of those powers following delegation. 703.155(5) (5) Unit owners; rights and responsibilities. The rights and responsibilities of unit owners with respect to the association set forth in s. 703.15 apply, in the conduct of the affairs of a master association, only to those persons under sub. (6) who elect the executive board of a master association, whether or not those persons are unit owners. 703.155(6) (6) Master association; election of executive board. Notwithstanding s. 703.15 (2) (f) and whether or not a master association is also an association described in s. 703.15 (1) , the instrument creating the master association and the declaration of each condominium the powers of which are assigned by the declaration or delegated to the master association shall provide that the executive board of the master association shall be elected after the period of declarant control in any of the following ways: 703.155(6)(a) (a) All unit owners of all condominiums subject to the master association may elect all members of the executive board. 703.155(6)(b) (b) All members of the executive boards of all condominiums subject to the master association may elect all members of the executive board. 703.155(6)(c) (c) All unit owners of each condominium subject to the master association may elect specified members of the executive board. 703.155(6)(d) (d) All members of the executive board of each condominium subject to the master association may elect specified members of the executive board. 703.155(7) (7) Representation of condominium or noncondominium property. A master association may represent condominium or noncondominium property on behalf of one or more condominiums and property under a different form of ownership or for the benefit of the unit owners of one or more condominiums and the owners of other …
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Governance
| Ref | Requirement |
|---|---|
| Associations for condominiums created before November 1, 2004 must establish a reserve account within 18 months of that date (or after declarant control ends), UNLESS the association, with written consent of a majority of unit votes, elects not to establish one. |
Reserves
| Ref | Requirement |
|---|---|
| Provides for a statutory reserve account for condominiums. | |
| The reserve account statement must be recorded with the register of deeds. | |
| The annual budget must provide for reserve funds if a statutory reserve account exists. |
Other sections in this chapter
- Wis. Stat. §703.02 — Wisconsin Condominium Ownership Act — Definitions
- Wis. Stat. §703.15 — Condominium Ownership Act — Association of Unit Owners
- Wis. Stat. §703.16 — Condominium Ownership Act — Common Expenses and Common Surpluses
- Wis. Stat. §703.161 — Condominium Ownership Act — Annual Budget
- Wis. Stat. §703.165 — Condominium Ownership Act — Lien for Unpaid Common Expenses
- Wis. Stat. §703.17 — Condominium Ownership Act — Insurance
- Wis. Stat. §703.20 — Condominium Ownership Act — Association Records; Financial Audits
- Wis. Stat. §703.33 — Condominium Ownership Act — Disclosure Requirements
- Wis. Stat. §703.335 — Condominium Ownership Act — Payoff Statement
- Wis. Stat. §703.365 — Condominium Ownership Act — Small Condominiums
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Legal references last verified April 15, 2026.
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