Funding Rules: Repair / Replacement Reserves

We live in a community under development, where 40 of 180 homes have been built. However, all major amenities (clubhouse, pool, etc.) are in place. The HOA covenants require establishment of repair and replacement reserves. However, we have been told that reserves are not required for communities under development. Is anyone familiar with with these rules? My guess is that the "development" rule was established for new communities similar to ours, but unlike ours do not yet have amenities. Can anyone provide some thoughts or idea on where to find this information?

Tony,

Copied below is the applicable section from the Delaware UCIOA. There is no section stating the declarant is removed from having to abide by this state law. Unless your gov docs specifically state the declarant does not have to fund a reserve account, then IMO he is required to do so by state law. Having said that, the only way you may be able to get him to do this is to take him to court. Good luck!!

BTW, you may want to ask to see the document that says a reserve account is not required for communities still under declarant control.

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CHAPTER 81. DELAWARE UNIFORM COMMON INTEREST OWNERSHIP ACT
Subchapter III. Management of the Common Interest Community
§ 81-302. Powers of unit owners' association.

(a) Except as otherwise provided in subsection (b) of this section and other provisions of this chapter, the association:

(2) Must adopt and may amend budgets pursuant to § 81-324 of this title and collect assessments for common expenses, including funds for the repair and replacement reserve, from unit owners and may invest any funds of the association;