community associations

Lost in all of the controversy surrounding the recent amendments to Florida’s laws governing community associations–and, in particular, the changes to condominium association laws enacted by House Bill 1237–were revisions to the financial reporting requirements for condominium and cooperative associations.

House Bill 6027 became effective on July 1 and amends provisions of Chapters 718

Florida statutes governing condominium and cooperative associations specifically provide that it is the association’s board of directors that is responsible for the administration of the association.   Similarly,  the governing documents for most mandatory homeowners associations governed by Chapter 720 of the Florida Statutes and community associations governed by Chapter 617 of the Florida Statutes provide