Section 5510 - Two Signatures to Withdraw Reserve Funds

(a) The signatures of at least two persons, who shall be directors, or one officer who is not a director and one who is a director, shall be required for the withdrawal of moneys from the association's reserve accounts.

Section 1365.5 - Directors' Duty of Review; Reserve Funds; Periodic Visual Inspection

(b)    The signatures of at least two persons, who shall be members of the association’s board of directors, or one officer who is not a member of the board of directors and a member of the board of directors, shall be required for the withdrawal of moneys from the association’s reserve accounts.

Changes

5510.1365.5

(a) (b)    The signatures of at least two persons, who shall be members of the association’s board of directors, or one officer who is not a member of the board of directors and a member of the board of directorsdirector and one who is a director, shall be required for the withdrawal of moneys from the association’s reserve accounts.