Florida lawyers and HOA board members are in a snit because of a new state law designed to reign in dictatorial boards and embezzling board members.
The new law requires HOA boards to maintain records for seven years. It slashes the price HOAs can charge homeowners for copies of documents. HOA elections have to be fair and reasonable. Board members can no longer have those outrageous four hundred dollar apiece high-end meals they routinely force fellow homeowners to finance. But above all, board members have to have crime and fidelity insurance to prevent them from embezzling. And any board member charged with embezzling has to be immediately kicked off the board.
All common sense, right?
Well, the law will cut deeply into the fees that HOA lawyers hand off to all homeowners.
(click here for an HOA lawyer’s blog)
