HOA - Homeowners’ Association Act, Chapter 720, Florida Statutes
Chapter 720 of the Florida Statutes governs homeowners' associations (HOAs) in Florida. Unlike condominiums or cooperatives, homeowners' associations typically govern single-family homes in a specific development or community.
Here's a summarized overview of Chapter 720 - HOMEOWNERS’ ASSOCIATIONS:
General Provisions: This section provides definitions and other guiding principles relevant to homeowners' associations.
Governing Documents: Discusses the declaration of covenants, bylaws, and articles of incorporation. It provides guidelines on what they should contain, how they can be amended, and their enforcement.
Membership and Voting: Covers membership rights and obligations, how voting rights are allocated, meetings, quorums, and voting procedures.
Board Members; Administration: Deals with the election and powers of the board of directors, their meetings, powers and duties, and other administrative aspects of the HOA.
Budgets; Assessments; Purchasing Contracts: Dives into financial matters, including budgeting, assessments, handling of association funds, and processes for entering into contracts.
Association Powers and Duties: Highlights the roles and responsibilities of the association, including maintenance, repair, insurance, and recreation leases.
Members’ Rights and Duties: Describes the rights of homeowners, such as access to records, financial reporting, and dispute resolution.
Regulation by Division: Describes the role of the Division of Florida Condominiums, Timeshares, and Mobile Homes in oversight and regulation of HOAs.
Amendments to the Act: Details how the act itself can be amended or updated.
Emergency Powers: This might discuss the HOA's powers during times of emergency, such as natural disasters.
Miscellaneous: Other various provisions related to HOAs which might include topics like rulemaking procedures, liens, fines, and suspension of use rights.
For more info visit HOA - Homeowners’ Association Act, Chapter 720, Florida Statutes