Housing Act Article 60

Where a public residential community directly built by the government that does not form a management committee or elect a manager in accordance with the Regulations on the Management of Apartment Buildings, management and maintenance of the community shall be handled in accordance with the Regulations on the Management of Apartment Buildings starting on the day this Act takes effect.Where the management and maintenance fund of a public residential community has a surplus or is not appropriated, the municipal or county (city) competent authority shall open a public fund account in the government treasury using the community name, and transfer the community’s management and maintenance fund into the account. After the community forms a management committee or elects a manager in accordance with the Regulations on the Management of Apartment Buildings and submits a report, the municipal or county (city) competent authority shall transfer funds in the account into the public fund account opened by the community.