Question:
Can a Florida HOA in unincorporated Miami-Dade County invest a portion of its reserves in US Treasury bills with maturity ranging from 3 months to 2 years depending on its approved project start dates and budget?
Answer:
Hi,
The Florida Homeowners’ Association Act Section 720.303(6)(h) states that reserve funds can be used for purposes other than authorized reserve expenditures only if there is a majority vote at a meeting that has met a quorum. Kindly consult a lawyer for further guidance. Apart from this, kindly consult your governing documents to see if there are any guidelines or prohibitions to investing the HOA’s reserve funds.
You may also find this resource helpful: https://www.hoamanagement.com/
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
