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California Civil Code 5550 requires a Reserve Study based on a “diligent visual site inspection” at least every third year, but requires the Board review that Reserve Study annually and “consider and implement necessary adjustments”. That’s called an annual Reserve Study update.
More information: https://www.reservestudy.com/blog/is-a-reserve-study-required-annually-in-california/ https://www.reservestudyusa.com/2-reserve-laws/36-california-reserve-study-laws https://dre.ca.gov/files/pdf/re25.pdf
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