There shall be established one or more checking accounts in a commercial bank to be known as the”Operating Fund.” The Operating Fund will be used for the normal operation of the Association and will receive all monthly Assessments for Common Expenses, Specially Allocated Expenses, first purchasers’ initial contributions to the fund, and other monies received by the Association. Checks shall be issued from this account for all management and operational expenditures necessary for the Condominium and maintenance expenses of a routine or minor nature that do not require resort to the Reserve Fund. Owners may be directed to make payments for Specially Allocated Expenses to a third party as agent for the Association or to the Association, as the Board may determine. [Bylaws, Article 6, Section 6.2]

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