Effective October 1, 2008, Section 718.112(2)(f)4., Florida Statutes, was amended with respect to the waiving of reserves in a condominium. Specifically, the statute now requires that proxy questions relating to waiving or reducing the funding of ...

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Division of Florida Condominiums, Timeshares and Mobile Homes

RULE NO: RULE TITLE
61B-23.002: Operation of the Association
PURPOSE AND EFFECT: Effective October 1, 2008, Section 718.112(2)(f)4., Florida Statutes, was amended with respect to the waiving of reserves in a condominium. Specifically, the statute now requires that proxy questions relating to waiving or reducing the funding of reserves or using existing reserve funds for other purposes shall contain a disclosure statement in capitalized, bold letters in a font size larger than any other used on the face of the proxy ballot. The purpose of this rule is to renumber and amend the Sample Limited Proxy Form to comply with the new law and revise the financial reporting waiver language of the proxy form.
SUMMARY: This rule amendment addresses disclosure requirements for limited proxies that are used to waive reserves, reduce reserves, or use reserves for other purposes.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 718.112(2)(b)2., (d)3., 718.501(1)(f) FS.
LAW IMPLEMENTED: 718.1085, 718.111(12), 718.112(2)(b)2., (b), (c), (d)3., 4., (f)4., 718.117, 718.501(2)(a), 718.504 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: April 27, 2009, 10:00 a.m.
PLACE: The Northwood Centre, Suite 16, Conference Room, 1940 N. Monroe Street, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Sharon A. Malloy, Senior Management Analyst II, Division of Florida Condominiums, Timeshares, and Mobile Homes, 1940 North Monroe Street, Tallahassee, Florida 32311-1030; [phone]

THE FULL TEXT OF THE PROPOSED RULE IS:

61B-23.002 Operation of the Association.

(1) through (4) No change.

(5) Unit owners shall not, except as provided by Section 718.112(2)(b)2., Florida Statutes, vote by general proxy, but may vote by limited proxy substantially similar to the SAMPLE LIMITED PROXY FORM adopted by the division as DBPR Form CO 6000-7 BPR form 33-033, incorporated herein by reference and effective ________ 11-23-93. The form may be obtained by writing the Division of Florida Condominiums, Timeshares, and Mobile Homes, Northwood Centre, 1940 North Monroe Street, Tallahassee, Florida 32399-1030 32399-1033 or may be downloaded at http://www.myflorida.com/dbpr/lsc/LSCMHCondominiumForms.html.

(6) through (10) No change.

Rulemaking Specific Authority 718.112(2)(b)2., (d)3., 718.501(1)(f) FS. Law Implemented 718.1085, 718.111(12), 718.112(2)(b)2., (c), (d)3., 4., (f)4., 718.117, 718.501(2)(a), 718.504 FS. History–New 7-22-80, Amended 8-31-83, 10-1-85, Formerly 7D-23.02, Amended 1-27-87, 7-10-88, 3-21-89, 2-18-92, Formerly 7D-23.002, Amended 11-23-93, 2-20-97, 4-14-99, 12-23-02, 1-28-04, 11-30-04,_________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Michael Cochran, Director, Division of Florida Condominiums, Timeshares, and Mobile Homes, 1940 North Monroe Street, Tallahassee, Florida 32399-1030
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Charles W. Drago, Secretary, Department of Business and Professional Regulation
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 12, 2009
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: January 23, 2009