2-minute executive summary
Lei 8/2022 made the 10% reserve fund mandatory. How to calculate it, where to hold it, what it can be used for, and consequences of non-compliance.
Lei 8/2022 mandates a reserve fund of at least 10% of the annual budget, held in a separate bank account in the condominium's name. Monthly contribution per unit: (Budget × 10% ÷ 12) × (Permilage ÷ 1000). The fund can only be used for conservation and repair works on common areas.
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HOA insurance guide for boards: fidelity bond and crime insurance requirements compared across California (Civil Code 5806), Florida (718.111), Texas (209.00595, 20+ lots) and Nevada (NRS 116.3143), plus master policy and lender requirements.
Published 7 August 2026 · IgeraFincas Editorial Team · 10 min read