The minimum percentage of the annual budget of a condominium that must be assigned to the repair and replacement reserve will depend on how many of the following components and systems are to be maintained, repaired and replaced by the council:
(1) One or more hallways;
(2) One or more stairwells;
(3) One or more management or administrative offices;
(4) One or more roofs;
(5) One or more windows;
(6) One or more exterior walls;
(7) One or more elevators;
(8) One or more HVAC systems;
(9) One or more swimming pools;
(10) One or more exercise facilities;
(11) One or more clubhouses;
(12) One or more parking garages (but not including surface parking lots);
(13) One or more masonry bridges used by motor vehicles;
(14) One or more bulkheads; and
(15) One or more docks.
In the event that the council is responsible for the maintenance, repair and replacement of 4 or more of the above-described systems or components, the minimum percentage of the condominium's annual budget that must be assigned to the repair and replacement reserve is 15%; if the responsibility extends to only 3 of the above-described systems and components, the minimum percentage is 10%; and if the responsibility extends to only 2 or fewer of the above-described systems and components, the minimum percentage is 5%. In the event that the condominium's accountant certifies that the funds in the repair and replacement reserve are in excess of the sum required to constitute a fully funded repair and replacement reserve as defined in § 2202(8) of this title, the council shall treat the excess as a common profit subject to distribution pursuant to § 2216 of this title. In the event that the association does not have a current repair and replacement reserve as required by this chapter, the minimum percentages of the association's budget to be assigned to the reserve study shall be the percentages prescribed in this section.