This bill amends several sections of Florida Statutes related to timeshare management firms and community association management. Key changes include the deletion of a requirement for managing entities performing community association management to comply with certain provisions, and the introduction of new provisions that require timeshare management firms and their employees to act in good faith while discharging their duties. Additionally, the bill exempts these firms and individuals from liability for monetary damages under specific conditions. It also mandates that the board of administration of a timeshare condominium must meet at least once a year, with provisions for additional meetings as needed.

Furthermore, the bill clarifies that certain conflict of interest provisions do not apply to community association managers or management firms that manage timeshare plans governed by chapter 721. It requires annual disclosure of any arrangements between timeshare management firms and affiliated entities to the members of the owners association. The bill also reenacts a section regarding the discharge of managing entities to incorporate the amendments made, ensuring that the responsibilities of the owners association remain clear in the event of a management change. The act is set to take effect on July 1, 2025.

Statutes affected:
S 496 Filed: 468.4334