Florida proposed Amendments to FS 20.165: FS 720

Jacqueline,

I think that he signed it. Goes into effect July 1st or Oct 1st.

Does anyone know the status of the recommendations of the Florida House Select Commission as they apply to FS 720. The govenor signed into law the Condo changes but I cannot find any changes to 720 that were approved.

jim,
Fl Statute 20:165 is the Statute that created the DEPT OF BUSINESS AND PROFESSIONAL REGULATIONS in 1995. I have not read all of the 2008 bills and therfore I don't have a clue what they are adding to this Statute in regards to HOAs.

Because our association is in deep financial trouble I was tasked to ask our Attorney the question of "disbanning" or "dissolving" the association. What was mentioned surprised me a little. 1) the attorney said they do everything except dissolving an association, 2) that we would have to be careful of "punitive damages" and "receivership" (no idea what they are or mean, and 3) that we would need %100 of the members to agree (but our bylaws state only 2/3 rds) so I'm not sure where they get their information from. To get an opinion letter with this information and about 6 other questions answered it cost our association approx. $2,000. I think I now know why they do everything except dissolutionments......!

Jacquelin,

From your other posts, I suspect that you are a condominium. Dissolving an Association does not abolish the Covenants. As a condominium, there are certain things that must be done. If the things are not done, then any member may petition the court to appoint a receiver. If the court agrees, the Court appoints someone to oversee the complex and comply with your Covenants (replacing roofs, repainting, etc.).

If the court does appoint a receiver, the receiver answers only to the court. The membership has little to no say in how things are ran. The receiver will be paid by the members at a salary agreed to by the Court. The receiver will adjust the assessments as needed to meet the financial obligations of the Association. They will file liens and may or may not foreclose on those liens. If everyone is not paying, then those who are paying will most likely pay more to cover the difference.

YOU DO NOT WANT TO GO INTO RECEIVERSHIP.

I certainly understand the cost of seeking a legal opinion. We asked three questions and it cost us $600.

BTW - this thread is over 3 years old. It's typically better to start new topics than to reactivate old threads. This is because as the laws change, what was good advice in 2007 or 2008 might not be good advice in 2012.