This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Condominium Act Form 4 In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00452
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Word;
Rich Text
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FAQ
A law passed in 2022 requires condo associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. As a result, older condos are facing hefty increases to association payments to fund these reserves and repair costs.
MIAMI (AP) — Florida inium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade.
The records of the association shall be made available to a unit owner within 45 miles of the inium property or within the county in which the inium property is located within 10 working days after receipt of a written request by the board or its designee.
The board of administration shall be composed of five members unless the inium has five or fewer units. The board shall consist of not fewer than three members in iniums with five or fewer units that are not-for-profit corporations.
The Florida inium Act serves as a comprehensive legal framework governing inium ownership, management, and operation within the state of Florida.
A board may take action (vote on a decision) without a meeting. A board meeting is a gathering of the board in a way that the board members can communicate live and in real time.
The state law, passed in 2022, requires associations to have sufficient reserves to cover major repairs.
How To File a Complaint. To file a complaint against a Homeowners Association (HOA) in Florida, you need to fill out a inium/Cooperative Complaint Form and file it directly with the Division of Florida iniums, Timeshares, and Mobile Homes.
In summary, condo board members in Florida may face personal liability in certain situations, contingent on the nature of the claim, liability source and available insurance coverage or indemnification.