The Department of Business and Professional Regulation has apparently concluded that the reserve funding requirements imposed by Senate Bill 4-D are applicable to all buildings, to include 1-story and 2-story buildings. While many legal practitioners initially opined that the recently amended statutory provision concerning structural reserve funding applied only to buildings three (3) stories or higher, there is now, at the very least, ambiguity.
For additional information regarding Senate Bill 4-D, see our other blog articles below:
