Question:
Can an HOA in CA invest in Money Mkt funds? Are there different rates for nonprofits?
My HOA BOD said: “It turned out that the money market interest is very low, 0.1% for non-profit organisation such as us.”
– James
Answer:
Hi James,
Check your governing documents to see if your HOA can invest in money market funds. Managing agents, though, may not invest funds, according to Civil Code Section 5380. You might find this article helpful: https://www.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
