A “material alteration or addition” is one that “palpably or perceptively var[ies] or change[s] the form, shape, elements, or specifications of a building in such a manner as to appreciably affect or influence its function, use, or appearance.” Sterling Village Condominium, Inc. v. Breitenbach, 251 So. 2d 685, 687 (Fla. […]
Most community association governing documents as well as applicable corporate statutes grant the board the right to appoint and remove officers. This is important when an officer proves to be prone to bad/rude behavior. The board likely has the right to vote to remove this individual as an officer (president, […]
There are two recent cases of which community association boards should be particularly aware of. Both cases involved residents who were injured by third parties but who filed suit against their association claiming that the association was also partly responsible for their damages because of their failure to enforce the […]
Q: After the unit owners in a condominium association vote to approve an amendment, is there a time limit or deadline by which the amendment must be recorded with the county? (M.A. via e-mail) A: Chapter 718 of the Florida Statutes, known as the Florida Condominium Act, extensively regulates amendments […]
Although the utilization by FINRA broker-dealer members firms of “backstop” agreements is fairly common, and have been issued for years, the regulatory underpinnings for their use and the effect on net capital has never been clear. Counsel, investment bankers, compliance officers, and FINOPS have struggled to cite a true regulatory […]
