Associations should be careful when moving funds (IL)

/ Owner - February 16, 2024

Q. Our townhouse association is a common interest community association governed by the Illinois Common Interest Community Association Act. Can funds be moved back and forth between operational and reserve accounts? For example, if money is moved to the reserve account because that account is paying the best interest, can funds be moved back to operational if unexpected expenses come up that are not designated capital improvement projects?    Read the Q&A………………………………..

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