November 28, 2020
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The Florida Statutes

The 2006 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY
Chapter 720
HOMEOWNERS' ASSOCIATIONS
View Entire Chapter
Section 720.308, Florida Statutes 2006

720.308  Assessments and charges.--For any community created after October 1, 1995, the governing documents must describe the manner in which expenses are shared and specify the member's proportional share thereof. Assessments levied pursuant to the annual budget or special assessment must be in the member's proportional share of expenses as described in the governing document, which share may be different among classes of parcels based upon the state of development thereof, levels of services received by the applicable members, or other relevant factors. While the developer is in control of the homeowners' association, it may be excused from payment of its share of the operating expenses and assessments related to its parcels for any period of time for which the developer has, in the declaration, obligated itself to pay any operating expenses incurred that exceed the assessments receivable from other members and other income of the association. This section does not apply to an association, no matter when created, if the association is created in a community that is included in an effective development-of-regional-impact development order as of the effective date of this act, together with any approved modifications thereto.

History.--s. 58, ch. 95-274; s. 51, ch. 2000-258.

Note.--Former s. 617.308.

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