A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - True
Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - True
The Florida Fair Housing Act prohibits discrimination on the basis of handicap - True
A valid Declaration of Condominium must contain easements for ingress and egress to all units and the common elements - True
Compliance with the Construction Lien Law is very technical and can have an impact on title to property. Therefore the board should always consult with the manager regarding lien issues - False. The board should consult an attorney.
Corporate Charter - Articles of Incorporation are also known as the
Establishes the power and authority of the community Association
Establishes the corporate entity that is responsible for management, maintenance and operation of the community association
Is based in corporate law - Articles of Incorporation ( Corporate Charter)
Florida Not for Profit Corporate Act - FS 617
Florida Corporate Act - FS 607
Conducting business and Community Association affairs
Operating and managing the association property and assets
Suing and defending against actions
Lending money for association purposes
Acquiring Property
Entering into contracts and purchasing items that are required for operations and maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association properties - Powers that are granted in FS 617
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