In the context of Co-operative Housing Societies (CHS), Apartment Owners Associations (AOA), Residents Welfare Associations (RWA): The Corpus Fund is typically handed over by the Builder to the Society / Association.
However, the Society may contribute further and utilize this Fund by making Rules with the approval of the General Body. However, such fund cannot be taken from the person transferring flat/tenement/right to share/share capital in the society.
Utilization: As per rules made and approved by General Body
You can read more about the fund and it’s implications here.
To ensure the Corpus Fund of your Community is correctly accounted for, check ADDA ERP – the end-to-end online Accounting features tailor made for Association Accounting.