FDIC Limits and the Emergency Economic Stabilization Act of 2008
Q I am the treasurer of a condominium association. I am concerned about how the Emergency Economic Stabilization Act may affect the safety of our association's accounts with banks. Our association collects monthly maintenance payments from members and deposits the funds into three accounts that are used for operating expenses, security deposits, and large-project reserves. Please explain how our accounts might be affected by the act.
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