This bill amends Section 718.124 of the Florida Statutes, which pertains to the limitations on actions by condominium and cooperative associations. The amendment specifically removes the phrase "and statute of repose" from the existing law, thereby clarifying that the statute of limitations for any legal actions by these associations will not commence until a majority of the unit owners have elected the members of the board of administration.

The bill aims to provide a clearer timeline for when condominium and cooperative associations can initiate legal actions, ensuring that unit owners have a say in the governance of their associations before any legal proceedings can begin. The effective date for this change is set for July 1, 2025.

Statutes affected:
S 586 Filed: 718.124