{ "dataset": "CommonKeel reserve study requirement and preparer qualification by state", "version": "2026-10", "date_modified": "2026-10-10", "license": "https://creativecommons.org/licenses/by/4.0/", "built_from": [ "https://commonkeel.com/states/comparison/" ], "method": "Every field restates the reserve study column our 49-state comparison table already publishes for that state, with the same citation, source URL and verification date. The status, cycle and preparer fields are a classification of that published cell and add no fact to it. Mississippi has no row in the table and is not included.", "fields": { "status": "required, partial (a funding or disclosure rule rather than a study) or none", "cycle_years": "the statutory interval in years where the published cell states one, otherwise null", "preparer": "credentialed, independent, qualified, board_allowed, not_specified or none", "regime": "'condominiums only' where the published cell limits the duty to condominiums, otherwise 'both regimes'", "source_depth": "primary where the comparison table marks the cell as read at the state's own source, secondary where the table marks it with its secondary-source flag" }, "states": [ { "state": "AK", "state_name": "Alaska", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. AS 34.08, Alaska's Uniform Common Interest Ownership Act, requires no reserve study and no reserve analysis, and the phrase reserve study does not appear anywhere in the chapter. The only engineer certified reserve figure in Alaska law is a declarant duty at the sales stage: the public offering statement must disclose the assumptions behind the reserve amount, certified by a certified architect or engineer, together with the budgeted reserve for repairs and replacement and the estimated cost and useful life of the asset. Nothing renews that obligation once the declarant is gone, so reserve planning in Alaska is a governing document and fiduciary question under the care required of fiduciaries in 34.08.330(a), not a statutory checkbox. Read the applicability line first, because AS 34.08 reaches only communities created after January 1, 1986.", "comparison_cell": "No. AS 34.08, Alaska's Uniform Common Interest Ownership Act, requires no reserve study and no reserve analysis, and the phrase reserve study does not appear anywhere in the chapter. The only engineer certified reserve figure in Alaska law is a declarant duty at the sales stage: the public offering statement must disclose the assumptions behind the reserve amount, certified by a certified architect or engineer, together with the budgeted reserve for repairs and replacement and the estimated cost and useful life of the asset. Nothing renews that obligation once the declarant is gone, so reserve planning in Alaska is a governing document and fiduciary question under the care required of fiduciaries in 34.08.330(a), not a statutory checkbox. Read the applicability line first, because AS 34.08 reaches only communities created after January 1, 1986.", "citation": "AS 34.08.530(a)(5); 34.08.330(a)", "source_url": "https://www.akleg.gov/basis/statutes.asp#34.08.010", "verified": "2026-09-19", "regime": "both regimes", "source_depth": "primary" }, { "state": "AL", "state_name": "Alabama", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No, and the date your community was created decides which Alabama act even reaches you. The Alabama Uniform Condominium Act applies to condominiums created after January 1, 1991; for a condominium created before that date only a short closed list of sections reaches back, and that list includes the lien, records and resale sections but not the board, budget, meeting, quorum, proxy or assessment sections. The Alabama Homeowners' Association Act applies to developments subject to a declaration recorded in the probate office on or after January 1, 2016, and to an older association only if a majority of its members elects to be governed by it; it does not apply to nonresidential developments, to any association subject to the condominium chapters, or to cooperatives, time shares and campgrounds. A large share of Alabama's existing homeowners associations therefore sit under no state governance statute at all, and run on their declaration plus nonprofit corporation law. Neither act requires a reserve study. The condominium act gives the association power to adopt and amend budgets for revenues, expenditures and reserves, which is a permission and not a duty, and the Homeowners' Association Act asks only for the current operating budget and reserve funds, if any.", "comparison_cell": "No, and the date your community was created decides which Alabama act even reaches you. The Alabama Uniform Condominium Act applies to condominiums created after January 1, 1991; for a condominium created before that date only a short closed list of sections reaches back, and that list includes the lien, records and resale sections but not the board, budget, meeting, quorum, proxy or assessment sections. The Alabama Homeowners' Association Act applies to developments subject to a declaration recorded in the probate office on or after January 1, 2016, and to an older association only if a majority of its members elects to be governed by it; it does not apply to nonresidential developments, to any association subject to the condominium chapters, or to cooperatives, time shares and campgrounds. A large share of Alabama's existing homeowners associations therefore sit under no state governance statute at all, and run on their declaration plus nonprofit corporation law. Neither act requires a reserve study. The condominium act gives the association power to adopt and amend budgets for revenues, expenditures and reserves, which is a permission and not a duty, and the Homeowners' Association Act asks only for the current operating budget and reserve funds, if any.", "citation": "Ala. Code secs. 35-8A-102(a), 35-20-3; 35-8A-302(a)(2); 35-20-13(b)(3)", "source_url": "https://alison.legislature.state.al.us/code-of-alabama?section=35-8A-102", "verified": "2026-09-18", "regime": "both regimes", "source_depth": "primary" }, { "state": "AR", "state_name": "Arkansas", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. The Horizontal Property Act, Arkansas's condominium statute, has no reserve section, and neither the list of particulars a master deed must express nor the list of contents the bylaws must carry mentions reserves. Arkansas has not adopted the uniform act and has no statute at all for non-condominium property owners associations, which run on their recorded covenants and, where incorporated, the Arkansas Nonprofit Corporation Act.", "comparison_cell": "No. The Horizontal Property Act, Arkansas's condominium statute, has no reserve section, and neither the list of particulars a master deed must express nor the list of contents the bylaws must carry mentions reserves. Arkansas has not adopted the uniform act and has no statute at all for non-condominium property owners associations, which run on their recorded covenants and, where incorporated, the Arkansas Nonprofit Corporation Act.", "citation": "Ark. Code Ann. sec. 18-13-104(b)", "source_url": "https://arkleg.state.ar.us/Home/FTPDocument?path=/ACTS/2025R/Public/ACT516.pdf", "verified": "2026-09-17", "regime": "both regimes", "source_depth": "primary" }, { "state": "AZ", "state_name": "Arizona", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No statutory reserve study or funding mandate (negative claim, ARS Title 33)", "comparison_cell": "No statutory reserve study or funding mandate (negative claim, ARS Title 33)", "citation": "ARS Title 33 (chs. 9, 16)", "source_url": "https://www.azleg.gov/arsDetail/?title=33", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "CA", "state_name": "California", "status": "required", "cycle_years": 3, "scope_note": null, "preparer": "not_specified", "preparer_note": "The section as our table states it sets the study and the cycle, and names no preparer qualification.", "requirement": "A visual inspection reserve study at least every 3 years where the component value is at least half the gross budget, with an annual review.", "comparison_cell": "Yes: visual-inspection reserve study at least every 3 years where component value is at least half the gross budget; annual review", "citation": "Cal. Civ. Code sec. 5550", "source_url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV§ionNum=5550.", "verified": "2026-08-14", "regime": "both regimes", "source_depth": "primary" }, { "state": "CO", "state_name": "Colorado", "status": "partial", "cycle_years": null, "scope_note": "New communities only: the declarant must obtain a study before control transfers.", "preparer": "none", "preparer_note": "No study duty on an existing board, so no preparer question arises for one.", "requirement": "No study mandate for an existing association. The governance policy must address reserve study and funding.", "comparison_cell": "No study mandate for existing associations; governance policy must address reserve study and funding. New communities: declarant reserve study before turnover (HB26-1099, eff. 2026-08-12)", "citation": "C.R.S. secs. 38-33.3-209.5(1)(b)(IX), 38-33.3-209.2", "source_url": "https://dre.colorado.gov/sites/dre/files/documents/2025%20Colorado%20Common%20Interest%20Ownership%20Act%20(38-33.3-101%20et%20seq).pdf", "verified": "2026-09-01", "regime": "both regimes", "source_depth": "secondary" }, { "state": "CT", "state_name": "Connecticut", "status": "partial", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "A disclosure rule rather than a study, so the statute names no preparer.", "requirement": "No statewide study mandate. The budget summary must state the reserve amounts and the basis for calculating and funding them.", "comparison_cell": "No statewide study mandate; budget summary to owners must state reserve amounts and the basis for calculating and funding them", "citation": "Conn. Gen. Stat. sec. 47-261e(a)(1)", "source_url": "https://www.cga.ct.gov/current/pub/chap_828.htm", "verified": "2026-07-26", "regime": "both regimes", "source_depth": "primary" }, { "state": "DE", "state_name": "Delaware", "status": "required", "cycle_years": 5, "scope_note": "Condominiums and cooperatives created on or after September 30, 2009. Planned communities have no study requirement.", "preparer": "qualified", "preparer_note": "The statute names an engineer, an architect, a contractor or other qualified person, which is the broadest preparer list in this tool.", "requirement": "A fully funded repair and replacement reserve based on a study done or updated within the last 5 years.", "comparison_cell": "Yes for condominiums and cooperatives created on or after September 30, 2009: the declaration must provide for a fully funded repair and replacement reserve based on a reserve study done or updated within the last 5 years by an engineer, architect, contractor or other qualified person. Planned communities have no study requirement", "citation": "25 Del. C. sec. 81-205(a)(14); definition at sec. 81-103(40)", "source_url": "https://delcode.delaware.gov/title25/c081/sc02/index.html", "verified": "2026-09-13", "regime": "condominiums only", "source_depth": "primary" }, { "state": "FL", "state_name": "Florida", "status": "required", "cycle_years": 10, "scope_note": "Condominiums of 3 or more habitable stories (structural integrity reserve study).", "preparer": "credentialed", "preparer_note": "The statute names a licensed engineer, a licensed architect or a reserve specialist. A board cannot prepare it itself.", "requirement": "A structural integrity reserve study at least every 10 years per building.", "comparison_cell": "Condos 3+ stories: structural integrity reserve study (SIRS) at least every 10 years per building by licensed engineer, architect or reserve specialist", "citation": "Fla. Stat. sec. 718.112(2)(g)", "source_url": "https://www.flsenate.gov/Laws/Statutes/2026/718.112", "verified": "2026-08-27", "regime": "condominiums only", "source_depth": "primary" }, { "state": "GA", "state_name": "Georgia", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No statutory reserve study or funding mandate (negative claim)", "comparison_cell": "No statutory reserve study or funding mandate (negative claim)", "citation": "O.C.G.A. 44-3-70 et seq.; 44-3-220 et seq.", "source_url": "https://www.legis.ga.gov/", "verified": "2026-08-24", "regime": "both regimes", "source_depth": "secondary" }, { "state": "HI", "state_name": "Hawaii", "status": "required", "cycle_years": 3, "scope_note": "Condominiums. The planned community chapter has no reserve section.", "preparer": "independent", "preparer_note": "The study must be reviewed by an independent preparer at least every 3 years.", "requirement": "A budget built on a reserve study, reviewed by an independent preparer at least every 3 years.", "comparison_cell": "Condos yes: budget built on a reserve study, reviewed by an independent preparer at least every 3 years; planned communities (ch. 421J): no reserve section", "citation": "Haw. Rev. Stat. sec. 514B-148; ch. 421J", "source_url": "https://www.capitol.hawaii.gov/hrscurrent/Vol12_Ch0501-0588/HRS0514B/HRS_0514B-0148.htm", "verified": "2026-07-27", "regime": "condominiums only", "source_depth": "primary" }, { "state": "IA", "state_name": "Iowa", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Iowa requires no reserve study and no reserve analysis, and the phrase reserve study appears nowhere in the Horizontal Property Act. Read the structure first, because it explains most of this row. Iowa has a 1966 condominium statute at chapter 499B, a cooperative housing act at 499A, a 2023 records statute at 499C that does reach ordinary homeowner associations, and the Revised Iowa Nonprofit Corporation Act at chapter 504. It has no planned community act and no common interest ownership act. Section 499B.15 lists what a condominium's bylaws must contain and names no reserve item, and the only capital reserve fund in this corner of the Code is in 499A.105(3), which applies to low income sweat equity housing cooperatives alone. Reserve planning in Iowa is therefore a governing document and fiduciary question rather than a statutory one.", "comparison_cell": "No. Iowa requires no reserve study and no reserve analysis, and the phrase reserve study appears nowhere in the Horizontal Property Act. Read the structure first, because it explains most of this row. Iowa has a 1966 condominium statute at chapter 499B, a cooperative housing act at 499A, a 2023 records statute at 499C that does reach ordinary homeowner associations, and the Revised Iowa Nonprofit Corporation Act at chapter 504. It has no planned community act and no common interest ownership act. Section 499B.15 lists what a condominium's bylaws must contain and names no reserve item, and the only capital reserve fund in this corner of the Code is in 499A.105(3), which applies to low income sweat equity housing cooperatives alone. Reserve planning in Iowa is therefore a governing document and fiduciary question rather than a statutory one.", "citation": "Iowa Code 499B.15; 499C.1(7); 499A.105(3); no reserve provision in ch. 499B or ch. 504", "source_url": "https://www.legis.iowa.gov/docs/code/499B.pdf", "verified": "2026-09-20", "regime": "both regimes", "source_depth": "primary" }, { "state": "ID", "state_name": "Idaho", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Neither the Homeowner's Association Act nor the Condominium Property Act requires a reserve study, a reserve analysis or any reserve fund, and neither sets a frequency, a preparer qualification or a reserve disclosure at resale. The negative claim is read off the full section lists of both chapters: chapter 32 runs from 55-3201 to 55-3213 and carries no reserve section, and chapter 15 carries none either. What the act controls instead is how the number is set. The association determines and establishes the amount of assessments in accordance with its governing documents or, where the governing documents do not say, with the approval of a majority of the members.", "comparison_cell": "No. Neither the Homeowner's Association Act nor the Condominium Property Act requires a reserve study, a reserve analysis or any reserve fund, and neither sets a frequency, a preparer qualification or a reserve disclosure at resale. The negative claim is read off the full section lists of both chapters: chapter 32 runs from 55-3201 to 55-3213 and carries no reserve section, and chapter 15 carries none either. What the act controls instead is how the number is set. The association determines and establishes the amount of assessments in accordance with its governing documents or, where the governing documents do not say, with the approval of a majority of the members.", "citation": "Idaho Code secs. 55-3204(3)(d); chapter 32 section list, 55-3201 to 55-3213", "source_url": "https://legislature.idaho.gov/statutesrules/idstat/title55/t55ch32/", "verified": "2026-09-18", "regime": "both regimes", "source_depth": "primary" }, { "state": "IL", "state_name": "Illinois", "status": "partial", "cycle_years": null, "scope_note": null, "preparer": "not_specified", "preparer_note": "The budget must consider any independent reserve study the association has, which is not a duty to commission one.", "requirement": "No study mandate. The annual budget must provide reasonable reserves, considering any independent reserve study.", "comparison_cell": "Condos: no study mandate; annual budget must provide reasonable reserves, considering any independent reserve study", "citation": "765 ILCS 605/9(c)", "source_url": "https://www.ilga.gov/Legislation/ILCS/Articles?ActID=2200&ChapterID=62", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "IN", "state_name": "Indiana", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. The Condominium Act requires a replacement reserve fund but no study; the HOA article (IC 32-25.5) has no reserve provision at all (negative claim from a full-text search of both articles)", "comparison_cell": "No. The Condominium Act requires a replacement reserve fund but no study; the HOA article (IC 32-25.5) has no reserve provision at all (negative claim from a full-text search of both articles)", "citation": "Ind. Code sec. 32-25-4-4(c); art. 32-25.5", "source_url": "https://iga.in.gov/laws/2025/ic/titles/32#32-25-4-4", "verified": "2026-09-11", "regime": "both regimes", "source_depth": "primary" }, { "state": "KS", "state_name": "Kansas", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. The Kansas Uniform Common Interest Owners Bill of Rights Act, at K.S.A. 58-4601 to 58-4623, requires no reserve study and no reserve analysis, and the word reserve does not appear in any of its twenty two operative sections. The older Apartment Ownership Act and Townhouse Ownership Act have no reserve provision either. The only financial planning duty is that the board shall propose and adopt a budget at least annually. Check the size gate before anything else in this row: the Bill of Rights Act applies only to common interest communities containing twelve or more units that may be used for residential purposes, so an eleven unit community sits outside it entirely and runs on its declaration plus, if incorporated, the Kansas General Corporation Code.", "comparison_cell": "No. The Kansas Uniform Common Interest Owners Bill of Rights Act, at K.S.A. 58-4601 to 58-4623, requires no reserve study and no reserve analysis, and the word reserve does not appear in any of its twenty two operative sections. The older Apartment Ownership Act and Townhouse Ownership Act have no reserve provision either. The only financial planning duty is that the board shall propose and adopt a budget at least annually. Check the size gate before anything else in this row: the Bill of Rights Act applies only to common interest communities containing twelve or more units that may be used for residential purposes, so an eleven unit community sits outside it entirely and runs on its declaration plus, if incorporated, the Kansas General Corporation Code.", "citation": "K.S.A. 58-4620(a); 58-4605(a)", "source_url": "https://ksrevisor.gov/statutes/chapters/ch58/058_046_0020.html", "verified": "2026-09-19", "regime": "both regimes", "source_depth": "primary" }, { "state": "KY", "state_name": "Kentucky", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study required in any regime. A planned community budget \"may include reserves\", and a condominium board has the power, not the duty, to budget them (negative claim from the full KRS ch. 381 section list)", "comparison_cell": "No reserve study required in any regime. A planned community budget \"may include reserves\", and a condominium board has the power, not the duty, to budget them (negative claim from the full KRS ch. 381 section list)", "citation": "KRS secs. 381.790(1)(a), 381.9167(1)(b)", "source_url": "https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=53661", "verified": "2026-09-13", "regime": "both regimes", "source_depth": "primary" }, { "state": "LA", "state_name": "Louisiana", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study or reserve analysis under either regime. Louisiana rewrote its planned community law while this table was being built: Acts 2024, No. 158 replaced the Homeowners Association Act with the Louisiana Planned Community Act at La. R.S. 9:1141.1 and following, effective January 1, 2025, modelled on the uniform act, so these cells give the planned community rule and the condominium rule separately where they differ. Planned communities of more than 25 lots owe a reserve disclosure rather than a study; condominium reserves are optional and bylaw-driven.", "comparison_cell": "No reserve study or reserve analysis under either regime. Louisiana rewrote its planned community law while this table was being built: Acts 2024, No. 158 replaced the Homeowners Association Act with the Louisiana Planned Community Act at La. R.S. 9:1141.1 and following, effective January 1, 2025, modelled on the uniform act, so these cells give the planned community rule and the condominium rule separately where they differ. Planned communities of more than 25 lots owe a reserve disclosure rather than a study; condominium reserves are optional and bylaw-driven.", "citation": "La. R.S. 9:1141.1; 9:1141.34(A)(1); 9:1123.106(C)(3)", "source_url": "https://legis.la.gov/legis/Law.aspx?d=106629", "verified": "2026-09-14", "regime": "both regimes", "source_depth": "primary" }, { "state": "MA", "state_name": "Massachusetts", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Ch. 183A requires a reserve fund but no study, assessment or funding-plan update; scope is left to the master deed, trust or bylaws (negative claim from the full section list). No general HOA statute", "comparison_cell": "No. Ch. 183A requires a reserve fund but no study, assessment or funding-plan update; scope is left to the master deed, trust or bylaws (negative claim from the full section list). No general HOA statute", "citation": "M.G.L. c. 183A, sec. 10; ch. 183A section list", "source_url": "https://malegislature.gov/Laws/GeneralLaws/PartII/TitleI/Chapter183A/Section10", "verified": "2026-09-11", "regime": "both regimes", "source_depth": "primary" }, { "state": "MD", "state_name": "Maryland", "status": "required", "cycle_years": 5, "scope_note": "Homeowners associations are covered where the component repair or replacement cost is at least $10,000.", "preparer": "independent", "preparer_note": "The statute requires an independent reserve study.", "requirement": "An independent reserve study updated at least every 5 years.", "comparison_cell": "Yes, statewide: independent reserve study updated at least every 5 years; HOAs covered where component repair or replacement cost is at least $10,000", "citation": "Md. Real Prop. secs. 11-109.4, 11B-112.3; Corps. and Assns. sec. 5-6B-26.1", "source_url": "https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=grp§ion=11B-112.3&enactments=False&archived=False", "verified": "2026-09-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "ME", "state_name": "Maine", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study or reserve analysis is required and no frequency is set. Reserves appear in the Condominium Act only as a permitted budget line and inside the definition of common expenses. Maine also has no planned community or homeowners association statute, so this row describes condominiums; the Title 33 chapter index carries only the pre-1983 Unit Ownership chapter, the Time Shares chapter and the Maine Condominium Act.", "comparison_cell": "No reserve study or reserve analysis is required and no frequency is set. Reserves appear in the Condominium Act only as a permitted budget line and inside the definition of common expenses. Maine also has no planned community or homeowners association statute, so this row describes condominiums; the Title 33 chapter index carries only the pre-1983 Unit Ownership chapter, the Time Shares chapter and the Maine Condominium Act.", "citation": "33 M.R.S. secs. 1603-102(a)(2), 1601-103(5); Title 33 and ch. 31 indexes", "source_url": "https://legislature.maine.gov/statutes/33/title33ch31sec0.html", "verified": "2026-09-14", "regime": "both regimes", "source_depth": "primary" }, { "state": "MI", "state_name": "Michigan", "status": "partial", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "A funding floor rather than a study, so the statute names no preparer.", "requirement": "A reserve fund is required, and an administrative rule sets a floor of at least 10 percent of the annual budget.", "comparison_cell": "Funding floor, not a study: condo associations must maintain a reserve fund; administrative rule sets a floor of at least 10% of annual budget", "citation": "MCL 559.205; Mich. Admin. Code R 559.511", "source_url": "https://www.legislature.mi.gov/Laws/MCL?objectName=MCL-559-205", "verified": "2026-07-26", "regime": "both regimes", "source_depth": "primary" }, { "state": "MN", "state_name": "Minnesota", "status": "partial", "cycle_years": 3, "scope_note": null, "preparer": "not_specified", "preparer_note": "A funding rule rather than a study, so the statute names no preparer.", "requirement": "Replacement reserves in the annual budget, with adequacy reevaluated at least every third year.", "comparison_cell": "Funding rule, not a formal study: replacement reserves in the annual budget, adequacy reevaluated at least every third year", "citation": "Minn. Stat. sec. 515B.3-1141", "source_url": "https://www.revisor.mn.gov/statutes/cite/515B.3-1141", "verified": "2026-09-26", "regime": "both regimes", "source_depth": "primary" }, { "state": "MO", "state_name": "Missouri", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study or reserve analysis required, in any regime. The condominium board has power to adopt budgets \"for revenues, expenditures, and reserves\" but no duty to commission a study (negative claim from the full chapter 448 and chapter 355 section lists)", "comparison_cell": "No reserve study or reserve analysis required, in any regime. The condominium board has power to adopt budgets \"for revenues, expenditures, and reserves\" but no duty to commission a study (negative claim from the full chapter 448 and chapter 355 section lists)", "citation": "RSMo sec. 448.3-102.1(2); ch. 448 and ch. 355 section lists", "source_url": "https://revisor.mo.gov/main/OneSection.aspx?section=448.3-102", "verified": "2026-09-13", "regime": "both regimes", "source_depth": "primary" }, { "state": "MT", "state_name": "Montana", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Montana requires no reserve study, no reserve analysis and no reserve fund, for condominiums or for homeowner associations, and the phrase reserve study appears nowhere in the Unit Ownership Act. Work out which act you are under before reading the rest of this row. Title 70 chapter 23, the Unit Ownership Act, reaches a property only once a declaration has been recorded under 70-23-103, and it applies to townhomes or townhouses only if such a declaration was executed. Montana does have a homeowners association part, Title 70 chapter 17 part 9, but it is a single section about use restrictions rather than a governance act, and there is no 70-17-902. Everything financial in the condominium act reduces to one rule: common profits are distributed among, and common expenses charged to, the unit owners according to each owner's percentage of undivided interest in the common elements.", "comparison_cell": "No. Montana requires no reserve study, no reserve analysis and no reserve fund, for condominiums or for homeowner associations, and the phrase reserve study appears nowhere in the Unit Ownership Act. Work out which act you are under before reading the rest of this row. Title 70 chapter 23, the Unit Ownership Act, reaches a property only once a declaration has been recorded under 70-23-103, and it applies to townhomes or townhouses only if such a declaration was executed. Montana does have a homeowners association part, Title 70 chapter 17 part 9, but it is a single section about use restrictions rather than a governance act, and there is no 70-17-902. Everything financial in the condominium act reduces to one rule: common profits are distributed among, and common expenses charged to, the unit owners according to each owner's percentage of undivided interest in the common elements.", "citation": "MCA 70-23-501; 70-23-102(5); 70-23-103(1), (2); 70-17-901; no reserve provision in Title 70 ch. 23 or Title 35 ch. 2", "source_url": "https://mca.legmt.gov/bills/mca/title_0700/chapter_0230/part_0050/section_0010/0700-0230-0050-0010.html", "verified": "2026-09-20", "regime": "both regimes", "source_depth": "primary" }, { "state": "NC", "state_name": "North Carolina", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No statutory reserve study or funding mandate (negative claim, chs. 47F and 47C)", "comparison_cell": "No statutory reserve study or funding mandate (negative claim, chs. 47F and 47C)", "citation": "NCGS chs. 47F, 47C", "source_url": "https://www.ncleg.gov/Laws/GeneralStatutesTOC", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "secondary" }, { "state": "ND", "state_name": "North Dakota", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No, and the one place the phrase appears makes the point. North Dakota has no homeowners association act, no planned community act and no common interest ownership act. The only property specific statute is chapter 47-04.1, Condominium Ownership of Real Property, which runs sixteen sections and contains no reserve provision of any kind. Since 2025 a seller must disclose, before the sale of a condominium unit or of a property subject to a homeowners association, whether the association or condominium project uses a reserve study, along with the amount of reserve and capital funds available and committed to current or pending projects and the current operating and reserve budgets with a year to date financial statement. That is a disclosure about what an association happens to do, not a requirement that it do anything, and it is the only use of the words reserve study in North Dakota statute. Governance for both condominiums and non condominium associations runs on the recorded declaration and bylaws, plus the Nonprofit Corporation Act at chapter 10-33 if the association is incorporated.", "comparison_cell": "No, and the one place the phrase appears makes the point. North Dakota has no homeowners association act, no planned community act and no common interest ownership act. The only property specific statute is chapter 47-04.1, Condominium Ownership of Real Property, which runs sixteen sections and contains no reserve provision of any kind. Since 2025 a seller must disclose, before the sale of a condominium unit or of a property subject to a homeowners association, whether the association or condominium project uses a reserve study, along with the amount of reserve and capital funds available and committed to current or pending projects and the current operating and reserve budgets with a year to date financial statement. That is a disclosure about what an association happens to do, not a requirement that it do anything, and it is the only use of the words reserve study in North Dakota statute. Governance for both condominiums and non condominium associations runs on the recorded declaration and bylaws, plus the Nonprofit Corporation Act at chapter 10-33 if the association is incorporated.", "citation": "NDCC 47-10-02.3(2)(d), (e), (f); 47-04.1-01 to 47-04.1-16; no reserve provision in ch. 47-04.1 or ch. 10-33", "source_url": "https://ndlegis.gov/cencode/t47c10.pdf", "verified": "2026-09-20", "regime": "both regimes", "source_depth": "primary" }, { "state": "NE", "state_name": "Nebraska", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. The Nebraska Condominium Act mentions reserves only by counting allocations to reserves as a common expense and by letting the board adopt budgets that include reserves; it never requires that reserves be studied, calculated or funded to any level. Read this row as condominium law. The act governs condominiums created after January 1, 1984, older condominiums run on the 1963 Condominium Property Act with a short list of the newer act's sections reaching back, and Nebraska has no statute of any kind for non-condominium homeowners associations, which run on their covenants, their bylaws and the Nebraska Nonprofit Corporation Act.", "comparison_cell": "No. The Nebraska Condominium Act mentions reserves only by counting allocations to reserves as a common expense and by letting the board adopt budgets that include reserves; it never requires that reserves be studied, calculated or funded to any level. Read this row as condominium law. The act governs condominiums created after January 1, 1984, older condominiums run on the 1963 Condominium Property Act with a short list of the newer act's sections reaching back, and Nebraska has no statute of any kind for non-condominium homeowners associations, which run on their covenants, their bylaws and the Nebraska Nonprofit Corporation Act.", "citation": "Neb. Rev. Stat. secs. 76-826, 76-827(5), 76-860(a)(2)", "source_url": "https://nebraskalegislature.gov/laws/statutes.php?statute=76-826", "verified": "2026-09-17", "regime": "both regimes", "source_depth": "primary" }, { "state": "NH", "state_name": "New Hampshire", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study required. Reserves exist only as the condominium instruments provide; the board's duty is to disclose the reserves and \"the basis on which any reserves are calculated and funded\" in the budget summary (negative claim from the full RSA 356-B section list). No planned community statute exists", "comparison_cell": "No reserve study required. Reserves exist only as the condominium instruments provide; the board's duty is to disclose the reserves and \"the basis on which any reserves are calculated and funded\" in the budget summary (negative claim from the full RSA 356-B section list). No planned community statute exists", "citation": "RSA 356-B:40-c, I; RSA 356-B:3, III", "source_url": "https://www.gc.nh.gov/rsa/html/XXXI/356-B/356-B-40-c.htm", "verified": "2026-09-13", "regime": "both regimes", "source_depth": "primary" }, { "state": "NJ", "state_name": "New Jersey", "status": "required", "cycle_years": 5, "scope_note": "Associations whose capital assets are under $25,000 are exempt.", "preparer": "credentialed", "preparer_note": "The statute requires a credentialed reserve specialist, a licensed engineer or a licensed architect, working to Community Associations Institute standards.", "requirement": "A capital reserve study to CAI standards, updated every 5 years.", "comparison_cell": "Yes, statewide since Jan. 8, 2024: capital reserve study to CAI standards by credentialed specialist, engineer or architect; 5-year updates; under $25,000 assets exempt", "citation": "N.J.S.A. 45:22A-44.2 (as amended by P.L. 2025, c.132)", "source_url": "https://legiscan.com/NJ/text/S3992/id/3271737", "verified": "2026-09-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "NM", "state_name": "New Mexico", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No in either regime, but read the scope line first because New Mexico has two acts. The Homeowner Association Act applies to all homeowner associations created and existing in the state, with one size carve out: the sections on proxy and absentee voting, on the financial audit and on attorney fees do not apply to an association created before July 1, 2013 that has fewer than thirty lots, though any amendment to that association's community documents must still comply with the act. The Homeowner Association Act does not apply at all to a condominium governed by the Condominium Act. Neither act requires a reserve study, a reserve analysis, a frequency or a preparer. What New Mexico requires instead is a periodic look at the books: at least every three years the board must provide for a financial audit, review or compilation of the association's records in accordance with generally accepted accounting principles by an independent certified public accountant, with the cost assessed as a common expense, and the result made available to lot owners within thirty calendar days of completion.", "comparison_cell": "No in either regime, but read the scope line first because New Mexico has two acts. The Homeowner Association Act applies to all homeowner associations created and existing in the state, with one size carve out: the sections on proxy and absentee voting, on the financial audit and on attorney fees do not apply to an association created before July 1, 2013 that has fewer than thirty lots, though any amendment to that association's community documents must still comply with the act. The Homeowner Association Act does not apply at all to a condominium governed by the Condominium Act. Neither act requires a reserve study, a reserve analysis, a frequency or a preparer. What New Mexico requires instead is a periodic look at the books: at least every three years the board must provide for a financial audit, review or compilation of the association's records in accordance with generally accepted accounting principles by an independent certified public accountant, with the cost assessed as a common expense, and the result made available to lot owners within thirty calendar days of completion.", "citation": "NMSA 1978 secs. 47-16-15, 47-16-10", "source_url": "https://nmonesource.com/nmos/nmsa/en/item/4408/index.do#!b/47-16-15", "verified": "2026-09-18", "regime": "both regimes", "source_depth": "primary" }, { "state": "NV", "state_name": "Nevada", "status": "required", "cycle_years": 5, "scope_note": null, "preparer": "qualified", "preparer_note": "The statute requires a qualified preparer. A summary goes to the Real Estate Division on Form 609.", "requirement": "A study of reserves at least every 5 years, reviewed annually, with a summary filed with the state.", "comparison_cell": "Yes: at least every 5 years by a qualified preparer, reviewed annually; summary filed with the Real Estate Division (Form 609)", "citation": "NRS 116.31152", "source_url": "https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec31152", "verified": "2026-07-31", "regime": "both regimes", "source_depth": "primary" }, { "state": "NY", "state_name": "New York", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No statutory reserve study for condos (Real Property Law art. 9-B) or for HOAs, which fall under the Not-for-Profit Corporation Law; negative claim from the full section lists of both", "comparison_cell": "No statutory reserve study for condos (Real Property Law art. 9-B) or for HOAs, which fall under the Not-for-Profit Corporation Law; negative claim from the full section lists of both", "citation": "N.Y. Real Prop. Law art. 9-B; N-PCL arts. 6, 7", "source_url": "https://www.nysenate.gov/legislation/laws/RPP/A9-B", "verified": "2026-09-11", "regime": "both regimes", "source_depth": "primary" }, { "state": "OH", "state_name": "Ohio", "status": "partial", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "A funding rule rather than a study, so the statute names no preparer.", "requirement": "No study mandate. Condominium budgets must include reserves adequate for major capital items unless owners waive annually.", "comparison_cell": "No study mandate; condo budgets must include reserves adequate for major capital items unless owners waive annually or documents limit assessments", "citation": "Ohio Rev. Code sec. 5311.081", "source_url": "https://codes.ohio.gov/ohio-revised-code/section-5311.081", "verified": "2026-07-18", "regime": "both regimes", "source_depth": "primary" }, { "state": "OK", "state_name": "Oklahoma", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Neither regime requires a reserve study or a reserve analysis: not the Unit Ownership Estate Act of 1963, which covers condominiums, and not the Real Estate Development chapter of 1975, which covers planned communities. Oklahoma is one of the thinnest statutory regimes in the country, and almost everything a board wants to know is in the recorded declaration, the covenants and the bylaws rather than in the statute.", "comparison_cell": "No. Neither regime requires a reserve study or a reserve analysis: not the Unit Ownership Estate Act of 1963, which covers condominiums, and not the Real Estate Development chapter of 1975, which covers planned communities. Oklahoma is one of the thinnest statutory regimes in the country, and almost everything a board wants to know is in the recorded declaration, the covenants and the bylaws rather than in the statute.", "citation": "60 O.S. secs. 501, 512, 851", "source_url": "https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf", "verified": "2026-09-17", "regime": "both regimes", "source_depth": "primary" }, { "state": "OR", "state_name": "Oregon", "status": "required", "cycle_years": null, "scope_note": null, "preparer": "not_specified", "preparer_note": "The sections as our table states them require the reserve account, the study and the maintenance plan, and name no preparer qualification.", "requirement": "A reserve account, a reserve study and a written maintenance plan, for planned communities and, in parallel, condominiums.", "comparison_cell": "Yes: planned communities must maintain a reserve account, reserve study and written maintenance plan; condominium parallel ORS 100.175", "citation": "ORS 94.595; ORS 100.175", "source_url": "https://www.oregonlegislature.gov/bills_laws/ors/ors094.html", "verified": "2026-09-01", "regime": "both regimes", "source_depth": "secondary" }, { "state": "PA", "state_name": "Pennsylvania", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No study or minimum-funding mandate; budgets may include reserves; board manages reserve funds under the prudent-investor rule", "comparison_cell": "No study or minimum-funding mandate; budgets may include reserves; board manages reserve funds under the prudent-investor rule", "citation": "68 Pa.C.S. secs. 5302(a)(2), 5303(a)", "source_url": "https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=68", "verified": "2026-07-26", "regime": "both regimes", "source_depth": "primary" }, { "state": "RI", "state_name": "Rhode Island", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study or reserve analysis is required, and Rhode Island has no planned community or homeowners association statute at all: Title 34 carries only the two condominium chapters, so every cell in this row describes condominiums. A Rhode Island subdivision HOA runs on its recorded declaration plus nonprofit corporation law. The association has only a general power to adopt budgets for reserves.", "comparison_cell": "No reserve study or reserve analysis is required, and Rhode Island has no planned community or homeowners association statute at all: Title 34 carries only the two condominium chapters, so every cell in this row describes condominiums. A Rhode Island subdivision HOA runs on its recorded declaration plus nonprofit corporation law. The association has only a general power to adopt budgets for reserves.", "citation": "R.I. Gen. Laws sec. 34-36.1-3.02(a)(2); Title 34 chapter index; ch. 34-36.1 art. III index", "source_url": "https://webserver.rilegislature.gov/Statutes/TITLE34/34-36.1/34-III/INDEX.htm", "verified": "2026-09-14", "regime": "both regimes", "source_depth": "primary" }, { "state": "SC", "state_name": "South Carolina", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study requirement in the HOA Act (Title 27, ch. 30 reviewed in full)", "comparison_cell": "No reserve study requirement in the HOA Act (Title 27, ch. 30 reviewed in full)", "citation": "S.C. Code sec. 27-30-110 et seq.", "source_url": "https://www.scstatehouse.gov/code/t27c030.php", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "SD", "state_name": "South Dakota", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No, and South Dakota has less association law than any other state in this table except Wyoming. Chapter 43-15A, Condominiums, is a 1975 developer registration statute administered by the Real Estate Commission: it defines the estate, requires a master deed or lease with stated particulars, requires a notice of intention to sell and a public report before units may be offered, and stops. It contains no reserve study requirement, no reserve fund and no governance content at all, and the former chapter 43-15 on vertical and horizontal property regimes was repealed in 1980. There is no homeowners association act, no planned community act and no common interest ownership act. The chapter that comes closest is 11-5, Restrictive Contracts and Declarations, and it carries the applicability line to read before anything else in this row: the covenant power it grants runs to the owner or owners of any real property situated in any first or second class municipality, restrictions under it continue in force for a period not exceeding forty years from the date of the declaration or contract, and where the declaration has no amendment provision a vote of two thirds of the owners of the property governed by it is required to modify it.", "comparison_cell": "No, and South Dakota has less association law than any other state in this table except Wyoming. Chapter 43-15A, Condominiums, is a 1975 developer registration statute administered by the Real Estate Commission: it defines the estate, requires a master deed or lease with stated particulars, requires a notice of intention to sell and a public report before units may be offered, and stops. It contains no reserve study requirement, no reserve fund and no governance content at all, and the former chapter 43-15 on vertical and horizontal property regimes was repealed in 1980. There is no homeowners association act, no planned community act and no common interest ownership act. The chapter that comes closest is 11-5, Restrictive Contracts and Declarations, and it carries the applicability line to read before anything else in this row: the covenant power it grants runs to the owner or owners of any real property situated in any first or second class municipality, restrictions under it continue in force for a period not exceeding forty years from the date of the declaration or contract, and where the declaration has no amendment provision a vote of two thirds of the owners of the property governed by it is required to modify it.", "citation": "SDCL 43-15A-1 to 43-15A-30; ch. 43-15 (repealed, SL 1980, ch 294); 11-5-1; 11-5-4; 11-5-11", "source_url": "https://sdlegislature.gov/Statutes/43-15A", "verified": "2026-09-20", "regime": "both regimes", "source_depth": "primary" }, { "state": "TN", "state_name": "Tennessee", "status": "required", "cycle_years": 5, "scope_note": "Condominiums only, where the aggregate replacement cost of the common elements exceeds $10,000. A condominium created before January 1, 2009 is outside it unless it adopted the act in full.", "preparer": "credentialed", "preparer_note": "The statute requires a reserve specialist credentialed through the Community Associations Institute or a similarly recognised organisation, or a licensed engineer or architect, working to CAI Reserve Study Standards.", "requirement": "A reserve study updated within 5 years of the last one and at least every 5 years after.", "comparison_cell": "Yes, and it is one of the few reserve study mandates written after 2020, but read the two limits first. Since Public Chapter 205 of 2023, effective January 1, 2024, a board overseeing common elements with an aggregate replacement cost exceeding ten thousand dollars that had a reserve study conducted on or after January 1, 2020 must have an updated study within five years of that study and at least every five years after; a board that had no study on or after January 1, 2020 had to have one conducted on or before January 1, 2025 and must update it every five years. The definition is unusually specific: an analysis prepared in conformity with the latest edition of the Reserve Study Standards published by the Community Associations Institute, or similar standards by another nationally recognized organization, by a reserve specialist credentialed through the Community Associations Institute or a similarly recognized organization, or a licensed engineer or architect, of the remaining useful life and the estimated cost to replace each separate system and component of the common elements. The board must make a copy available to all common interest owners by electronic mail or by posting it on the community website, and must review the reserve funding annually for adequacy. Exempt: a board controlled by a declarant, a condominium titled to a single owner, and a husband and wife holding by the entirety. The two limits: the duty sits in the condominium act, so it does not reach a non condominium homeowners association at all, and 66-27-202(a) lists the sections that reach condominiums created before January 1, 2009 without listing 66-27-403, so an older Tennessee condominium is outside it unless it amended and restated its documents to adopt the act in full.", "citation": "Tenn. Code Ann. secs. 66-27-403(g), 66-27-203; Acts 2023, ch. 205; scope at sec. 66-27-202(a)", "source_url": "https://publications.tnsosfiles.com/acts/113/pub/pc0205.pdf", "verified": "2026-09-21", "regime": "condominiums only", "source_depth": "primary" }, { "state": "TX", "state_name": "Texas", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No statutory reserve study or funding mandate (negative claim, Property Code chs. 82 and 209)", "comparison_cell": "No statutory reserve study or funding mandate (negative claim, Property Code chs. 82 and 209)", "citation": "Tex. Prop. Code chs. 82, 209", "source_url": "https://statutes.capitol.texas.gov/Docs/PR/htm/PR.209.htm", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "secondary" }, { "state": "UT", "state_name": "Utah", "status": "required", "cycle_years": 6, "scope_note": null, "preparer": "board_allowed", "preparer_note": "Utah is the one state in this tool whose statute says the board may prepare the analysis itself.", "requirement": "A reserve analysis at least every 6 years, reviewed and updated at least every 3 years, with an annual summary to owners.", "comparison_cell": "Yes: reserve analysis at least every 6 years, reviewed and updated at least every 3 years; board may prepare it itself; annual summary to owners", "citation": "Utah Code sec. 57-8a-211 (condos sec. 57-8-7.5)", "source_url": "https://le.utah.gov/xcode/Title57/Chapter8A/57-8a-S211.html", "verified": "2026-07-27", "regime": "both regimes", "source_depth": "primary" }, { "state": "VA", "state_name": "Virginia", "status": "required", "cycle_years": 5, "scope_note": null, "preparer": "not_specified", "preparer_note": "The section as our table states it sets the study and the cycle, and names no preparer qualification.", "requirement": "A reserve study at least once every 5 years, with the results reviewed annually and the budget adjusted.", "comparison_cell": "Yes: reserve study at least once every 5 years, results reviewed annually with budget adjustments; amended 2024 c.324", "citation": "Va. Code sec. 55.1-1826 (condo parallel sec. 55.1-1965)", "source_url": "https://law.lis.virginia.gov/vacode/title55.1/section55.1-1826/", "verified": "2026-08-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "VT", "state_name": "Vermont", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study or reserve analysis required under the 1994 Common Interest Ownership Act. Check the size thresholds before anything else in this row, because Vermont's are unusually broad: Title 27A reaches all residential condominiums created after January 1, 1999, but other common interest communities only if they contain 12 or more residential units, and a planned community of no more than 24 units that is not subject to development rights is subject to only three sections of the entire title (separate taxation, local ordinances, eminent domain) unless its declaration opts the whole title in.", "comparison_cell": "No reserve study or reserve analysis required under the 1994 Common Interest Ownership Act. Check the size thresholds before anything else in this row, because Vermont's are unusually broad: Title 27A reaches all residential condominiums created after January 1, 1999, but other common interest communities only if they contain 12 or more residential units, and a planned community of no more than 24 units that is not subject to development rights is subject to only three sections of the entire title (separate taxation, local ordinances, eminent domain) unless its declaration opts the whole title in.", "citation": "27A V.S.A. secs. 1-201(a), 1-203(a); no reserve study section in Title 27A", "source_url": "https://legislature.vermont.gov/statutes/section/27A/001/00203", "verified": "2026-09-14", "regime": "both regimes", "source_depth": "primary" }, { "state": "WA", "state_name": "Washington", "status": "required", "cycle_years": 3, "scope_note": null, "preparer": "independent", "preparer_note": "The study is updated annually, and the update that carries a site visit must be prepared by an independent professional at least every third year.", "requirement": "A reserve study updated annually, with an independent professional site visit every third year.", "comparison_cell": "Yes: reserve study updated annually; independent professional with site visit every third year; already applies to pre-2018 associations via RCW 64.90.365(1)(h)", "citation": "RCW 64.90.545-64.90.555; 64.90.365", "source_url": "https://app.leg.wa.gov/RCW/default.aspx?cite=64.90.545", "verified": "2026-09-01", "regime": "both regimes", "source_depth": "primary" }, { "state": "WI", "state_name": "Wisconsin", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No reserve study mandated. Where a statutory reserve account exists, the board sets reserve assessments after considering repair and replacement cost, remaining useful life and the current balance. No general HOA statute", "comparison_cell": "No reserve study mandated. Where a statutory reserve account exists, the board sets reserve assessments after considering repair and replacement cost, remaining useful life and the current balance. No general HOA statute", "citation": "Wis. Stat. sec. 703.163(7)", "source_url": "https://docs.legis.wisconsin.gov/statutes/statutes/703/163", "verified": "2026-09-11", "regime": "both regimes", "source_depth": "primary" }, { "state": "WV", "state_name": "West Virginia", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No. Chapter 36B, West Virginia's Uniform Common Interest Ownership Act, requires no reserve study or reserve analysis anywhere; reserves appear only as something the board may budget for and must disclose. Two filters decide whether any of this reaches you. A planned community of no more than twelve units that is not subject to any development rights is subject to only three sections of the entire act, on separate titles and taxation, local ordinances and eminent domain, unless its declaration opts the chapter back in. And a community created before the act took effect gets only the short list of sections in 36B-1-204, which does not include the budget, meeting or assessment provisions. Neither filter applies to condominiums.", "comparison_cell": "No. Chapter 36B, West Virginia's Uniform Common Interest Ownership Act, requires no reserve study or reserve analysis anywhere; reserves appear only as something the board may budget for and must disclose. Two filters decide whether any of this reaches you. A planned community of no more than twelve units that is not subject to any development rights is subject to only three sections of the entire act, on separate titles and taxation, local ordinances and eminent domain, unless its declaration opts the chapter back in. And a community created before the act took effect gets only the short list of sections in 36B-1-204, which does not include the budget, meeting or assessment provisions. Neither filter applies to condominiums.", "citation": "W. Va. Code secs. 36B-1-203, 36B-1-204, 36B-3-102(a)(2)", "source_url": "https://code.wvlegislature.gov/36B-1-203/", "verified": "2026-09-17", "regime": "both regimes", "source_depth": "primary" }, { "state": "WY", "state_name": "Wyoming", "status": "none", "cycle_years": null, "scope_note": null, "preparer": "none", "preparer_note": "No study duty, so the statute names no preparer.", "requirement": "No, and the reason is broader than reserves: Wyoming has no homeowners association act, no planned community act and no common interest ownership act of any kind. Title 34 chapter 20 is the Condominium Ownership Act and it is four sections long, 34-20-101 to 34-20-104, covering only the recognition of the estate, definitions, tax assessment and the recording of the declaration; chapter 21 is the Uniform Commercial Code. Nothing in Title 34 requires a reserve study or a reserve analysis, and the phrases common interest community, planned community and reserve study do not appear in the title at all. Wyoming boards are governed by their recorded declaration and bylaws first, and by the Wyoming Nonprofit Corporation Act at Title 17 chapter 19 only if the association is incorporated, which is the single most important thing to check before reading the rest of this row.", "comparison_cell": "No, and the reason is broader than reserves: Wyoming has no homeowners association act, no planned community act and no common interest ownership act of any kind. Title 34 chapter 20 is the Condominium Ownership Act and it is four sections long, 34-20-101 to 34-20-104, covering only the recognition of the estate, definitions, tax assessment and the recording of the declaration; chapter 21 is the Uniform Commercial Code. Nothing in Title 34 requires a reserve study or a reserve analysis, and the phrases common interest community, planned community and reserve study do not appear in the title at all. Wyoming boards are governed by their recorded declaration and bylaws first, and by the Wyoming Nonprofit Corporation Act at Title 17 chapter 19 only if the association is incorporated, which is the single most important thing to check before reading the rest of this row.", "citation": "W.S. 34-20-101 to 34-20-104; Title 34 chapter list", "source_url": "https://wyoleg.gov/statutes/compress/title34.pdf", "verified": "2026-09-19", "regime": "both regimes", "source_depth": "primary" } ] }