No. South Carolina has no statutory reserve study, reserve funding, or reserve disclosure requirement for HOAs or condominium associations. The Horizontal Property Act (S.C. Code § 27-31-10 et seq.), which governs condominiums, contains no reserve study or reserve fund requirement — the word "reserve" appears just once, in passing, in the casualty-repair provision (§ 27-31-250(B)) — and the S.C. Homeowners Association Act (§ 27-30-110 et seq.) addresses only document recording, records access, and a 48-hour notice before budget increases, never reserves.
Verified against the statute 2026-07-06
No association type is covered by a reserve mandate: condominiums organized under the Horizontal Property Act and HOAs subject to the Homeowners Association Act are equally unregulated on reserves. Any reserve obligations come from a community's master deed, covenants, or bylaws.
No statutory cycle — South Carolina law never mentions reserve studies.
No statutory funding rule of any kind — no minimum balance, no percentage-funded target, and no separate-account requirement. Boards still owe fiduciary duties under their governing documents and the S.C. Nonprofit Corporation Act to maintain common property and assess adequately, which in practice pushes prudent boards toward voluntary reserve planning.
No statutory reserve disclosure to owners or buyers. The Homeowners Association Act requires only that governing documents be recorded to be enforceable and that owners get access to association records; neither act requires telling owners or purchasers what is (or is not) in the reserve fund. Lender programs (FHA/Fannie Mae condo approval) are the main practical driver of reserve line items and studies.
The condominium statute; verified to contain no reserve study, reserve fund, or reserve disclosure requirement — its only use of "reserve" is a passing reference in § 27-31-250(B) (repair costs "in excess of insurance proceeds and reserve" are a common expense). It addresses pro rata common expense contributions (§ 27-31-190) and expenditure records (§ 27-31-180).
Verified to contain no reserve provisions; its only budget rule is § 27-30-140's 48-hour advance notice to homeowners before an annual budget increase.
Fetched the full official text of Title 27, Chapters 31 and 30 on scstatehouse.gov: neither chapter contains a reserve study, reserve fund, or reserve disclosure requirement. The sole occurrence of "reserve" is in § 27-31-250(B) (casualty repair costs in excess of insurance proceeds and reserve are a common expense); §§ 27-31-190 (pro rata contributions), 27-31-180 (expenditure records), and 27-30-140 (48-hour budget-increase notice) were confirmed as described. Informational only — not legal advice. Confirm with the primary source and a community-association attorney licensed in South Carolina. Report an issue.
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