Reserves

Good afternoon,
I currently live in Florida, and my condo does not have reserves. To my understanding the law states it’s is mandatory. Can someone please confirm if this is true and when it became mandatory.

We live in single story HOA with 93 units. It is over 50 yr old. No assessment or inspection done in well over a decade. Cast iron piping, frequent plumber calls because of sewer backup. VP at last meeting
said we need an assessment and we need to talk about infrastructure.
Ignored, president wouldn’t allow anything typed in minutes. My concern for the entire community’s best interest. I am a board member, snowbird and agree with VP. I feel and have said at meeting that we keep putting bandaids on when the source of the problem be addressed. That goes for incoming piping as well . Thank you! Sue