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Home > Forum > Chennai > Investment Advice > can a owners association having corpus fund contributed by individual owners, invest in individual n ...

can a owners association having corpus fund contributed by individual owners, invest in individual names in bank?


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Corpus fund is also known as maintenance fund. The term “Corpus” literally means main part or organ of the body. It is also known as the capital of the organization. Normally corpus fund or maintenance fund denotes a permanent fund kept for the basic expenditure needed for the survival of the organization. Corpus fund is generally not allowed to be utilized for the attainment of the purpose; but interest or dividend on such fund can be utilized.
Rakesh


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