The Corporate Transparency Act (CTA) was passed with the goal of combating illicit activities like money laundering and terrorism financing. Under the CTA, many entities—including community associations such as homeowners associations (HOAs), condominiums, and housing cooperatives—would be required to submit detailed reports on their “beneficial owners” to the federal government. These reporting requirements, while aimed […]
The introduction of new reserve funding requirements for condominiums in Florida has sparked significant debate, particularly concerning whether these requirements can apply retroactively to condominiums with existing conflicting language in their governing documents. This issue hinges on several legal interpretations and past arbitration rulings. Kaufman Language The "Kaufman" language refers to a provision in a […]
Recent legislative changes in Florida, specifically House Bill 1021 and House Bill 1203, have introduced new educational requirements for Board Members, effective July 1, 2024. The Florida Department of Business and Professional Regulation (DBPR) has developed a 4-hour Board Member Certification Program designed to help Board Members understand their responsibilities under the new statutory requirements. […]
