No, hoarding rules do not apply to quilting. I have a very large stash. When I get a great idea at 2 am, I can go shopping in my well sorted stash and start immediately. I love it. My family and local charities appreciate the results.
BTW, my guild has a custom that when a guild member is no longer able to quilt, the fabric is sold to guild sisters at absurd prices. When a guild member dies, UFOs are finished for the family by the guild and the guild gets the stash for guild projects, which includes supplying fabric to very low income members.