NRSS industry standard

Arkansas HOA reserve study requirements (2026)

NRSS-standard 3-5 year cycle; driven by bylaws and lender requirements.

Governing statute

Arkansas Horizontal Property Act, Ark. Code Ann. Title 18, Chapter 13 (Ark. Code Ann. §18-13-101 et seq.), is Arkansas's only community-association statute and applies only to condominiums with a recorded master deed; it does not mandate a reserve study or minimum reserve fund. Arkansas has no Property Owners Association Act or other statute governing traditional HOAs or planned communities — those are governed solely by their recorded declaration and bylaws, and by the Arkansas Nonprofit Corporation Act if incorporated; practice follows the National Reserve Study Standards (NRSS)

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Quick facts

Specific reserve statute

None

Governing act (condo)

Arkansas Horizontal Property Act, Ark. Code Ann. Title 18, Chapter 13 — condominiums only

Non-condo HOAs / planned communities

No Arkansas statute governs them; governed solely by the recorded declaration and bylaws, and by the Nonprofit Corporation Act if incorporated

Board fiduciary duty

Arkansas Nonprofit Corporation Act (for incorporated associations)

Standard followed

NRSS

Cycle (best practice)

Level I every 3-5 years

Lender requirements

FHA, Fannie Mae, Freddie Mac

What the law actually requires

Arkansas does not have a statute that specifically mandates a reserve study for HOAs or condominium associations. The Arkansas Horizontal Property Act, Ark. Code Ann. Title 18, Chapter 13, establishes the legal framework for condominium regimes — covering regime establishment, common elements, bylaws, and assessment liens — but does not require a reserve study or a minimum reserve balance.

Arkansas has no statute governing traditional HOAs or planned communities at all — there is no Property Owners Association Act or comparable planned-community act in Arkansas. Non-condominium associations are governed solely by their recorded declaration and bylaws and, if the association is incorporated, by the Arkansas Nonprofit Corporation Act. Any reserve requirement in such a community flows entirely from its governing documents rather than from state statute.

Three forces shape Arkansas reserve practice despite the statutory gap: the National Reserve Study Standards from the Community Associations Institute; lender underwriting guidelines from FHA, Fannie Mae, and Freddie Mac; and, for associations incorporated as nonprofits, the duty of good faith and ordinary care that the Arkansas Nonprofit Corporation Act imposes on directors.

Arkansas boards should target a Level I or II reserve study every 3-5 years. Communities without a current study may struggle to qualify residents for FHA or conforming mortgage financing.

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How ReserveDeck handles Arkansas

ReserveDeck applies its Generic NRSS format to Arkansas properties: a National Reserve Study Standards report with the percent-funded metric, a 30-year cash-flow projection, and the three funding plans (Recommended, Threshold, Baseline). There is no Arkansas-specific disclosure page.

Built-in Arkansas compliance.

Select No specific reserve study statute from the Compliance Jurisdiction dropdown and ReserveDeck's PDF builder produces the right disclosure format automatically. Engine math is identical across jurisdictions — only the deliverable changes.

See pricing → See a sample report → Request a Arkansas demo

Frequently asked questions — Arkansas

Does Arkansas require an HOA reserve study?

No Arkansas statute specifically requires one. The Horizontal Property Act (Ark. Code Ann. Title 18, Chapter 13) governs condominiums but contains no reserve-study mandate, and Arkansas has no separate statute governing traditional HOAs or planned communities. Practice is driven by NRSS standards, lender requirements, and association bylaws.

What standard do Arkansas reserve studies follow?

The National Reserve Study Standards (NRSS) from the Community Associations Institute, defining study levels, the percent-funded metric, and a 30-year projection that satisfies FHA and conventional lenders.

Do lenders require a reserve study in Arkansas?

Indirectly. FHA condo project approval and Fannie Mae and Freddie Mac guidelines generally expect a recent reserve study. Communities without one may find it difficult to keep buyers eligible for conforming or FHA-insured loans.

Does Arkansas law address HOA board fiduciary duty?

Not through the Horizontal Property Act. Ark. Code Ann. §18-13-105 addresses the site plan attached to a master deed, not board conduct. For associations incorporated as nonprofits, the Arkansas Nonprofit Corporation Act imposes a general duty on directors to act in good faith and with the care an ordinarily prudent person would exercise.