Can a California HOA Borrow From Reserves Without a Membership Vote?

In this HOA Q&A, California’s leading homeowner-side HOA attorney, Michael Kushner, explains the process that an HOA board must go through to borrow money from reserve funds. 🎯 What You’ll Learn in This HOA Q&A:✅ What Civil Code § 5515 requires for an HOA to borrow from its reserves.✅ What notice and documentation requirements apply before and after the loan is approved.✅ When homeowners’ consent might be required.  HOA boards have the authority to borrow from reserves, but that authority comes with explicit obligations involving strict notice, documentation, and repayment requirements. If you’d like to learn more, check out the following Fact Sheets and podcast episodes: “HOA Reserve Studies...Understanding the “Percent Funded” Number.” [https://mbkchapman.com/hoa-reserve-studies-in-california-fact-sheet/] “How California HOAs Manipulate Reserve Studies..."[https://mbkchapman.com/california-hoa-reserve-study-fraud-fact-sheet/] “What Every California Homeowner Needs to Know About HOA Reserve Funds.” Part 1 [https://www.youtube.com/watch?v=fnG9UAv9LbY&t=684s]Part 2 [https://www.youtube.com/watch?v=Fu5QGHAsDrY&t=1422s] If you’d like to learn more about special assessments, read “California HOA Special Assessments: What They Are, When They’re Legal, and How Homeowners Can Challenge Them.” [https://mbkchapman.com/california-hoa-special-assessments-fact-sheet/] 🎧 📞 If you enjoyed this Q&A, please like and subscribe to HOA HELL. Listen on YouTube at @hoahellpodcastofficial or wherever you get your podcasts. To schedule a consultation, visit https://mbkchapman.com/ and mention the HOA HELL discount. Disclaimer: This content constitutes attorney advertising. The content of this podcast is for general informational purposes only and does not constitute legal advice. No attorney-client relationship is created by listening to this podcast, submitting a question, or receiving a response. Always consult with a licensed attorney regarding your specific legal situation. MBK Chapman and Michael Kushner disclaim any liability for actions taken or not taken based on the information provided in this podcast.  This communication does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.  About: Michael Kushner created and taught the systems now used by the biggest law firms in the state focused on HOA litigation. Managing partner of MBK Chapman, and author of the best-selling book, HOA HELL, Kushner teaches homeowners how to fight their bad HOAs and win. 💥 Amazon [https://tinyurl.com/tx47hmvn] | Barnes & Noble [https://www.barnesandnoble.com/s/hoa%20hell] #HOALaw #CaliforniaHOA #BadHOA #HOAhell #DavisStirlingAct #HOAReserves #HOASpecialAssessment #HOABoard #BorrowFromReserves 🔥 HOA Hell Attorney Michael Kushner, California’s #1 homeowner-side HOA lawyer, shares real legal tools to help homeowners fight back and win against Bad HOAs.👉 Got an HOA nightmare? Submit your question at [email protected]. Or learn more about your rights as a homeowner by visiting: https://www.mbkchapman.com/fact-sheets. 📲 Follow us on:Instagram: @mbkchapmanpc YouTube: HOA HellLinkedIn:  https://www.linkedin.com/company/mbk-chapmanFacebook:  https://www.facebook.com/MBKChapmanX:  https://x.com/MBKchapman Reddit:  https://www.reddit.com/r/hoa_hell/