Reso 2024-3630 - Laserfiche WebLink

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BILL: CS/SB 1178 Page 19 amendment to each declaration, the recorded association bylaws and amendments to those bylaws, articles of incorporation of the association and amendments to those articles, the annual and proposed budget, and various contracts, including any contract or document regarding a conflict of interest or possible conflict of interest. The failure of the association to post required information is not in and of itself sufficient to invalidate any action or decision of the association's board or its committees. Effect of Proposed Changes The bill amends the official records requirements for condominium associations in s. 718.111(12), F.S., to require official records be kept in a manner that facilitates inspection of the records by unit owners. In addition, if records are lost, destroyed, or otherwise made unavailable, the bill provides that the obligation to maintain official records includes the obligation to recover those records as may reasonably be possible to the fullest extent possible. Effective January 1, 2026, the bill amends the requirements for condominium associations to maintain specified records available for download on the association's website or by an application on a mobile device to decrease from 150 units to 25 units the threshold for that requirement. The bill also amends s. 718.111(12), F.S., to: • Require additional financial records (all invoices, transaction receipts, or deposit slips that substantiate any receipt or expenditure of funds by the association) be maintained by a condominium association and made available for inspection by association members; • Permit associations to comply with its obligations related to a member's right of access to certain official records and right to copies of such records by posting the records on the association's website and directing an authorized requester to such website; • Require associations to respond to a statutorily compliant written request to inspect records with a checklist of all records made available, and not made available, for inspection and copying; • Require associations to maintain the checklist provided in response to a written request for seven years; and • Require an association to maintain, and have available for download on the association's website or by an application on a mobile device, building permits related to ongoing or planned construction. The bill amends s. 718.501(1)(d)7., F.S., to require the division to provide the official records to the unit owner at no charge when the division subpoenas the records the association failed to timely provide in response to a unit owner's written request. Financial Reporting — Condominiums Present Situation Section 718.11(13), F.S., provides the financial reporting requirements for condominium associations. Within 90 days following the end of the fiscal or calendar year, or annually on such date as provided in the association's bylaws, the governing board of the association must complete, or contract with a third party to complete, the financial report. Within 21 days after the 329