Florida Regulations 61B-23.001: Board of Administration and Committees; Fiduciary Duty
Current as of: 2024 | Check for updates
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(1)(a) “”Meeting of the board of administration”” means any gathering of the members of the board of directors, at which a quorum of the members is present, for the purpose of conducting association business.
(b) “”Committee meeting”” means any gathering of a group of board members, unit owners, or board members and unit owners appointed by the board or a member of the board to make recommendations to the board regarding the association budget or take action on behalf of the board at which a quorum of the members of that committee is present. For example, a meeting of an executive committee, as defined in Florida Statutes § 617.0825, or as that section may subsequently be renumbered, would be included in this definition as would a meeting of a group charged with developing a proposed budget.
(2) Unit owners have the right to attend and observe all meetings of the board of administration and its committees.
(3) Where the declaration, articles of incorporation, or bylaws preclude non-unit owners from serving on the association’s board of administration, one acting under a power of attorney from a unit owner is similarly precluded from serving on the board unless he or she is a unit owner.
(4) In furtherance of its fiduciary duty to the unit owners, a board of administration shall employ only a licensed community association manager where licensure is required by Florida Statutes § 468.431
Rulemaking Authority 718.501(1)(f) FS. Law Implemented 718.111(1) FS. History-New 7-22-80, Amended 7-6-81, 8-31-83, 12-4-83, 10-1-85, Formerly 7D-23.01, Amended 1-27-87, 9-7-88, 7-17-91, 12-20-92, Formerly 7D-23.001, Amended 2-22-94, 4-14-99.
Terms Used In Florida Regulations 61B-23.001
- Fiduciary: A trustee, executor, or administrator.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Quorum: The number of legislators that must be present to do business.
(2) Unit owners have the right to attend and observe all meetings of the board of administration and its committees.
(3) Where the declaration, articles of incorporation, or bylaws preclude non-unit owners from serving on the association’s board of administration, one acting under a power of attorney from a unit owner is similarly precluded from serving on the board unless he or she is a unit owner.
(4) In furtherance of its fiduciary duty to the unit owners, a board of administration shall employ only a licensed community association manager where licensure is required by Florida Statutes § 468.431
Rulemaking Authority 718.501(1)(f) FS. Law Implemented 718.111(1) FS. History-New 7-22-80, Amended 7-6-81, 8-31-83, 12-4-83, 10-1-85, Formerly 7D-23.01, Amended 1-27-87, 9-7-88, 7-17-91, 12-20-92, Formerly 7D-23.001, Amended 2-22-94, 4-14-99.