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Simple English definitions for legal terms

Reserve fund

Read a random definition: odd-lot doctrine

A quick definition of Reserve fund:

A reserve fund is money set aside to pay for future expenses that a business or housing development might need. This money is saved to cover things like repairs or unexpected costs. The reserve fund is usually controlled by the people in charge of the business or the homeowners' association. They make sure there is enough money in the fund by putting some of the revenue or fees into it regularly.

A more thorough explanation:

A reserve fund is a sum of money set aside to cover future expenses that may arise unexpectedly. This fund is usually held by businesses or multi-unit housing developments, such as condominiums or housing cooperatives. The reserve fund is typically very liquid and is managed by the organization's management or homeowners' association (HOA).

For instance, a condominium association may set aside a portion of the monthly fees paid by residents to ensure that there are enough funds to cover any unexpected repairs or maintenance. Similarly, a business may allocate a portion of its revenue to a reserve fund to cover any unforeseen expenses that may arise in the future.

One example of a reserve fund is the emergency fund that individuals set up to cover unexpected expenses such as medical bills or car repairs. This fund is usually kept in a separate account and is easily accessible in case of an emergency.

The reserve fund is an essential financial tool that helps organizations and individuals prepare for unexpected expenses and maintain financial stability.

Reservation | Reserved Power of Appointment

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m10
20:42
Get the ones that are dressed up then!
@JumpySubsequentDolphin: LITERALLY I also just applied to work at garage cuz 50% EMPLOYEE DISCOUNT
m10
20:43
Or legacy collection v1
JumpySubsequentDolphin
20:43
@SplitterusClitterus: GARAGE JEANS FIT ME SO WEIRDLY WHICH SUCKS BC THEYRE SO CUTE
m10
20:43
The cool thing about V2 was it was an infinitely generating collection so they would have never sold out but they ended it early cus of the bear market.
@JumpySubsequentDolphin: NAURRR i need to try them on to see. ive never owned anything from them exceot maybe a tank in middle school?? but ive been a longtime lurker/windowshopper/fan
JumpySubsequentDolphin
20:45
SPLITTY if their jeans fit on my thighs they’re too big on my waist!!! it’s so frustrating
NOOO THEIR WHITE GIRL JEANS actually idk why im surprised
THEYRE**** THAT WAS AUTOCORREXT I SWEAR
babycat
20:46
@m10: infinitely generating means it comes up with new pictures? or new copies of the same pictures?
JumpySubsequentDolphin
20:46
if you’re the slightest bit curvy they are so obnoxious. me and my Abercrombie curve love’s are good together
SHUT UP I LOVE ABERCROMBIE JEANS
m10
20:47
Did y'all see this from ararara last night? https://studicata.com/case-briefs/all/
THOSE FIT SOO GOOD. i desperately need new jeans tho i ahvent gone shopping in millennia so a discount would come in clutch
JumpySubsequentDolphin
20:48
I got these jeans from re/done on a crazy sale and I love them BYT RHEY HAVE FIVE BUTTONS
JumpySubsequentDolphin
20:48
I DIDNT REALIZE WHEJ I BOUGHT THEM BC THEYRE HIDDEN. LIKE INSTEAD OF A ZIPPER THEYREBALL BUTTONS
JumpySubsequentDolphin
20:48
what if I have to pee.
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
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