Florida Community Association Management Chapter 3 Already Solved 100%

Community Association is both - Answer is both a a community and a business. Community associations are established with principles similar to those of government and good business practices. Community Association function - Answer is to preserve, maintain, and enhance the property, association, and assets. A community association serves - Answer as the management entity. Members elect the board of directors to operate and govern the community. Rights are responsibilities are govern by Florida Status. Florida Statues organize each community association as a corporation - Answer granting those powers that are normally vested in corporations, such a; -budgeting for the maintenance and operation of the property, association, and assets -collecting the necessary funds to carry out its duties -entering into contract, hiring employees, and taking other measures as needed to meet its objectives The board has management authority - Answer -It makes collective decisions at board meetings -no one board member can act on behalf of the community association, unless that authority is delegated by the board, or as defined by the community associations's documents -the board elects officers, 65f66 who have certain authority under the documents -Generally, officers are charged with carrying out the day to day operations of the community association and implementing decisions of the board. Manager or Management Firm - Answer Under Florida law, the board may delegate certain responsibilities to a manager or management firm. The board may never delegate its responsibility for decision making. Community Association Manager (CAM) - Answer In Florida, a person who is licensed to provide management services to a community association. Community Association Management Firm Or Business (CAB) - Answer A firm that provides community association management services. CAMs and CABs are govern by the following statute - Answer -F.S. 455 -F.S. 468 -Part VIII -F.A.C 61-20 -F.A.C. 61E-14