Verified Community Association Manager |Latest Release|

Verified Community Association Manager |Latest Release| A community association is Generally defined as real or personal property,owned by two or more entities, which share the responsibility for the cost of maintenance and administration *Ans* True Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the purchase *Ans* True Not for-profit corporations are exempt from federal income taxes *Ans* False A condominium and a hospital may join together to create a self insurance pool for windstorm insurance, if approved by the comptroller *Ans* False All community associations have identical legal structures *Ans* False The association must mail a notice for a regular board of directors meeting no less than 48 hours in advance *Ans* False If a timeshare property is a condominium, it must comply only with the condominium act *Ans* False The Florida fair housing act prohibits discrimination on the basis of handicap *Ans* True Compliance with the construction lien law is very technical and can have an impact on title to property. Therefore, the board should always consult with the manager regarding mean issues *Ans* False A valid declaration of condominium must contain easements for ingress and egress to all units and the common elements *Ans* True The cooperative is created when the article of incorporation are filed with the DBPR *Ans* False A condominium cannot obtain windstorm only insurance from citizens if it has 50 or more units rented for less than 30 days in an 8 month period *Ans* False Civic groups are governed by the homeowners association act *Ans* False When proposing amendments to the documents, a condominium should insert an underline in the new words in the text *Ans* Tru