Should Homeowners Be Able to Quickly Access Association Documents?
Transparency and immediate disclosure of information is one of the best ways to avoid doubts about transactions in associations. Management and Boards can easily provide most of the information on the association’s website. In Florida, effective in 2019, the following items must be posted on the association’s website (for condos with 150 or more units; but why not post it on smaller ones?):
a. The recorded declaration and each amendment to each declaration.
b. The recorded bylaws…
c. The articles of incorporation of the association….
d. The rules of the association….
e. A list of all executory contracts or documents to which the association is a party or under which the association or the unit owners have an obligation or responsibility and, after bidding for the related materials, equipment, or services has closed, a list of bids received by the association within the past year. Summaries of bids for materials, equipment, or services which exceed $500 must be maintained on the website for 1 year. In lieu of summaries, complete copies of the bids may be posted.
f. The annual budget and any proposed budget….
g. The financial reports…..
h. The certification of each director required by s. 718.112(2)(d)4.b.
i. All contracts or transactions between the association and any director, officer, corporation, firm, or association that is not an affiliated condominium association or any other entity in which an association director is also a director or officer and financially interested.
j. Any contract or document regarding a conflict of interest or possible conflict of interest as provided in ss. 468.436(2)(b)6. and 718.3027(3)….
k. The notice of any unit owner meeting and the agenda for the meeting….
l. Notice of any board meeting, the agenda, and any other document required for the meeting…..
For full details of these requirements, you can go to http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0718/Sections/0718.111.html
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