Florida Board Pay

Started by PeterB1 • 3 replies • 1372 views

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PeterB1 (Florida)
Posts: 257

Posted:

I know (rumor...) that a Board member cannot be paid for serving on the Board. But, I can find that documented anywhere in 720. Am I looking in the wrong place? Or is it part of FS 617?

Can an expert help me? Thanks.

peter

SureshD
Posts: 268

Posted:

Not an Expert...

The language PREVENTING compensation would be in your HOA docs. not 720 or 617.

In fact 617 states: "617.08101 Compensation of directors.--Unless the articles of incorporation or the bylaws provide otherwise, the board of directors may fix the compensation of directors."

PeterB1 (Florida)
Posts: 257

Posted:

Expert responded... The NEW FS 720

720.303(12)

COMPENSATION PROHIBITED.—A director, officer, or committee member of the association may not directly receive any salary or compensation from the association for the performance of duties as a director, officer, or committee member and may not in any other way benefit financially from service to the association.

Old versions of 720 did not have a paragraph (12)

peter

SureshD
Posts: 268

Posted:

Good call...
...updated my 720 link(s).

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