Condominium Administration Act Building Administration Division Article 18

Each condominium shall establish a common fund from the following sources:1.he builder of the condominium is required to provide a certain percentage of the cost of the project or a certain amount to pay for the management and maintenance during the year after the usage license is obtained;2.Each unit owner pays an amount as decided by the unit owner assembly;3.The interest accrued on the fund;4.Other incomes.Concerning the common funds as specified in Subparagraph 1 of the preceding paragraph, the builder is required to present the proof of the funds having been received by the treasury of the special municipality or county/city government in concern when applying for the usage license for the condominium. The said treasury shall disburse the funds to the condominium management committee or the manager after the committee is created or the manager is elected and the shared areas, designated shared areas and their affiliated facilities and equipment are confirmed and handed over according to Article 57. The central competent authority shall determine the percentage or amount referred to in the same subparagraph.The common fund shall be deposited in a designated account and placed under the management of the manager or management committee. If unit owner assembly makes a resolution to entrust the common fund, the manager or management committee shall entrust the common fund to a trustee. Utilization of the fund shall be conducted according to the decisions of the unit owner assembly.The regulations regarding the provision of the common fund to be provided by the builder as set forth in Paragraphs 1 and 2 shall not apply to builders who had obtained the building license before the Act took effect.