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Sunday, March 07, 2004
A lawsuit was brought against a homeowners association that used AFI Reserves to create their reserve study. In Gillman v. Shadybrook HOA, a Utah a resident claimed that the reserve study did not conform to CAI reserve study standards.
After intense review by an expert accountant and reserve study specialist, the court found that AFI Reserves did conform to CAI standards and that the reserve study could be used for dues considerations by the HOA board of directors.
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