Cond's needing to be incorporated

Started by LarryE1 • 4 replies • 1236 views

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LarryE1 (Florida)
Posts: 5

Posted:

I live in florida and I am new to the board. I found out we are not incorporated we were from 1993 to 1977. The Floirda 2008 Statutes chapter 718 states any assosiation which was in existence on January 1, 1977, need not be incorporated. My question is by not being incorporated does this change how we govern and does it change our by laws. We have a condo going into foreclosure and we are a 50+ coummunity are our by laws still our govering force. Should we apply to become incorporated and if so what is the benefited.

SusanW1 (Michigan)
Posts: 5,202

Posted:

YES! you need to be incorporated if you are conducting business and/or own common areas under the care of the HOA (i.e. have liabilities) Re-apply ASAP.

The "flow" of power starts with the Articles of Incorporation. Without your corporation, your current bylaws are not representing anything.

Either re-structure yourself or file those Artcles soon.

PS - how did this pass an audit and board review all these years?

LarryE1 (Florida)
Posts: 5

Posted:

Thank you for your reply. Like I said I am new to this and I don't know how this has gotten by for 30 years. My confustion is The Florida statute 718.111 states any association which was in existence on January 1, 1997 need not be incorporated. I found this at MyFloiria.com I have e-mailed the state with no reply. It scares me so I am going to restructure. Again I thank you.

SusanW1 (Michigan)
Posts: 5,202

Posted:

There are a few Florida "experts" here. Wait for their input / clarification.

LarryE1 (Florida)
Posts: 5

Posted:

Thank you, I am really worried.

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