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What should the property company do if it misappropriates the maintenance fund?
Legal analysis: Those who misappropriate special maintenance funds for houses will be fined less than 2 times of the misappropriated funds in addition to recovering the misappropriated special maintenance funds and confiscating illegal income. Property enterprises misappropriate special funds for residential maintenance, and if the circumstances are serious, their qualification certificates shall be revoked.
Legal basis: Article 10 of the Measures for the Administration of Maintenance Funds for Facilities and Equipment in Residential Areas * * * After the establishment of the owners' committee, with the consent of the owners' committee, the real estate administrative department will transfer the maintenance funds to the property management enterprise for escrow.
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