6501151, 61B-22.006 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 6501151

Notice of Proposed Rule

Department:

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Division:

Division of Florida Condominiums, Timeshares and Mobile Homes

Chapter:

FINANCIAL AND ACCOUNTING REQUIREMENTS; BUDGETS, RESERVES, AND GUARANTEES

Overview

RULE:

61B-22.006

Financial Reporting Requirements

PURPOSE:

These rule amendments implement a change in the condominium law requiring association financial reports to disclose the amount of reserve funding required to fully fund association reserves, and require special assessment disclosure for cash basis financial reports.

SUMMARY:

The amendments require financial reports to disclose the amount of annual funding required for reserves.

RULEMAKING AUTHORITY:

718.111(13), 718.501(1)(f) FS.

LAW:

718.111(12)(a)11., (13), 718.301(4) FS.

PRINT PUBLISH DATE:

12/12/2008 Vol. 34/50

COMMENTS:

From 12/12/2008 To 1/2/2009 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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