Statutory reserve account means a separate account established under this section to hold reserve funds.
Examples of Statutory reserve account in a sentence
It didn't steal my ability to trust people or cause me to fear every man that crosses my path.
Statutory reserve account statement” means a statement indicating whether a statutory reserve account has been established for a condominium and, if there is no statutory reserve account, how it is anticipated that future expenditures for the repair and replacement of common elements will be funded.
Perpetual] Permanent Care and Maintenance Account - Statutory reserve account for use in the long-term care[,] and maintenance[, and improvement] of the City Cemetery and the lots and niches therein.