Check a reserve study against the statutory contents
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Compare the draft study with the five items § 5550(b) requires, and flag a missing item. Do not invent a useful life, a cost, or a contribution.
- What the lawyer must review
- California Civil Code § 5550: at least once every three years the board causes a reasonably competent and diligent visual inspection of the accessible areas of the major components the association must repair, replace, restore, or maintain, if their current replacement value is at least one-half of the gross budget excluding the reserve account. The board reviews the study annually. The study includes, at a minimum, the major components with a remaining useful life of less than 30 years, that remaining life, the estimated cost to repair, replace, restore, or maintain them, the estimated total annual contribution after subtracting reserve funds as of the study date, and a reserve funding plan for major components with an expected remaining life of 30 years or less, excluding components the board has determined will not be replaced or repaired. Major components include gas, water, and electrical service to the extent the association is responsible under § 4775, which you open. You decide whether the threshold is met and whether a figure in the draft is supported. This is California. Other states differ.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording and identifying points for review. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.