Civil Code §5600. Duty to Levy Assessments; Fees to Defray Costs.
(a) Except as provided in Section 5605
, the association shall levy regular and special assessments sufficient to perform its obligations under the governing documents and this act. [Old
: Civ. Code §1366(a)
(b) An association shall not impose or collect an assessment or fee that exceeds the amount necessary to defray the costs for which it is levied. [Old
: Civ. Code §1366.1
(Added by Stats. 2012, Ch. 180, Sec. 2. Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.)