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Legislature Passes Bill Placing Oversight on Condo Boards

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  • /Legislature Passes Bill Placing Oversight on Condo Boards

Florida lawmakers passed a bill this week placing oversight on condo boards that imposes criminal penalties for some board violations.

This bill was drafted upon recommendations of a Miami-Dade grand jury and Florida’s DBPR after the uncovering of massive condo board fraud by various news outlets in 2016.

To become law, the bill, CS/CS/HB 1237, still needs Gov. Scott’s signature.  If signed, it becomes effective on July 1, 2017.

 

CS/CS/HB 1237 covers a number of condo oversight rules, but high-profile ones include:

  • If a condo association has more than 150 units, it must publish its financial reports on a password-protected web page.
  • If owners are denied documents and if fraud is proven, the people responsible for the fraud could face felony charges after July 2018.
  • Condo board directors are limited to eight years unless they get a super-majority of votes in later elections.
  • Directors can’t receive payments from the condo association, nor can they hire relatives.
  • 04 May 2017
  • Condo/HOA
  •  2 Comments
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  • delray beach condominium HOA , fort lauderdale condominium HOA , palm beach condominium HOA
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  • New Condo Laws Effective July 1, 2017
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