SB 1270 Relating to Advisory Council on Condominiums |
S1270 GENERAL BILL by Senator Margolis
01/31/06 SENATE Referred to Regulated Industries; Judiciary
02/14/06, 2:00 pm, 110-S
35-859A-06 1 A bill to be entitled 2 An act relating to the Advisory Council on 3 Condominiums; requiring that council review 4 certain provisions related to protections for 5 purchasers of condominium conversions; 6 requiring a report to the Legislature; 7 providing an effective date. 8 9 Be It Enacted by the Legislature of the State of Florida: 10 11 Section 1. (1) The Advisory Council on Condominiums, 12 created by s. 718.50151, Florida Statutes, shall review part 13 VI of chapter 718, Florida Statutes, concerning condominium 14 conversions, and shall submit a report to the Legislature by 15 November 30, 2006, which evaluates whether such provisions 16 provide adequate postpurchase protection for purchasers of 17 condominium conversion properties and recommends any proposed 18 legislation needed to improve the protection provided by part 19 VI of chapter 718, Florida Statutes. 20 (2) The report must examine the existing provisions, 21 particularly ss. 718.616 and 718.618, Florida Statutes, as 22 they relate to the following issues: 23 (a) Whether the disclosures required by s. 718.616, 24 Florida Statutes, provide adequate information to the 25 purchaser; whether more specific guidelines regarding the 26 contents of such reports should be established; and whether 27 the creation of privity or potential liability between persons 28 who certify such disclosure reports and the unit owners should 29 be addressed; and 30 (b) Whether the provisions of s. 718.618, Florida 31 Statutes, which require developers to fund reserve accounts or
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1 alternatives to such accounts, are adequate or should be 2 modified. 3 Section 2. This act shall take effect upon becoming a 4 law. 5 6 ***************************************** 7 SENATE SUMMARY 8 Requires the Advisory Council on Condominiums to review certain statutes related to protections for purchasers of 9 condominium conversions and submit a report to the Legislature. 10
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