Reserve study definition

Reserve study means an analysis, by 1 or more independent engineering, architectural, or construction contractors or other qualified persons, performed or updated within the last 5 years, of the remaining useful life and the estimated cost to replace each separate system and component of the common elements, the purpose of which analysis by 1 or more independent engineering, architectural, or construction contractors or other qualified persons, is to inform the executive board and the association of a condominium or cooperative of the amount which should be maintained from year to year in a fully funded repair and replacement reserve to minimize the need for special assessments.
Sample 1Sample 2Sample 3
Reserve study means a budget planning tool that
Sample 1Sample 2Sample 3
Reserve study means 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 who is credentialed through the Community Associations Institute or a similarly recognized organization, or a licensed engineer or architect, performed or updated within the last five (5) years, of the remaining useful life and the estimated cost to replace each separate system and component of the common elements, the purpose of which is to inform association members and the association's board of the amount that should be maintained from year to year in a fully funded repair and replacement reserve to minimize the need for special assessments;
Sample 1Sample 2Sample 3

Examples of Reserve study in a sentence

  • Results from the prospective multicenter DISCOVER-FLOW (Diagnosis of Ischemia-Causing Stenoses Obtained Via Noninvasive Fractional Flow Reserve) study.

  • The Reserve study shall be reviewed annually and at least once every three (3) years, the Board shall cause a site-review study of the Reserve account to be performed.

  • A 2018 Federal Reserve study describes the confusion: In short, small businesses often understood any number described in percentage terms to be the interest rate or APR.16 These other descriptions of cost appear much lower than the actual interest rate or APR, and are used to mislead small businesses into believing that high-cost financing is less expensive than it is.

  • Studies on this issue disagree but some recent research, including a Federal Reserve study, has shown that income mobility declined in the 1980s and 1990s.

  • The Reserve study must be reviewed annually and at least once every three (3) years, the Board must cause a site-review study of the Reserve account to be performed.


More Definitions of Reserve study

Reserve study means a study of the reserves required for future major repairs and replacement of the common elements of a cooperative or condominium, or the common areas of an HOA, that:
Sample 1Sample 2Sample 3
Reserve study means a capital budget planning tool used to determine the physical status and
Sample 1Sample 2Sample 3
Reserve study means a reasonably current engineering analysis of the remaining useful life and the estimated
Sample 1Sample 2
Reserve study means a capital budget planning tool used to determine the physical status and estimated repair or replacement cost of capital components and an analysis of association funding capacity to maintain, repair, and replace capital components.
Sample 1Sample 2Sample 3
Reserve study shall have the meaning set forth in Section 2.6.1 hereof.
Sample 1Sample 2
Reserve study means an analysis, by 1 or more independent engineering, architectural, or construction contractors or other qualified persons, performed or updated within the last 5 years, of the remaining useful life and the estimated cost to replace each separate system
Sample 1Sample 2
Reserve study means a study required pursuant to NRS 116.31152 which projects the
Sample 1Sample 2