SB 864 Summary

• Expands Division of Florida Condominiums, Timeshares, and Mobile Homes inspection powers to examine premises, books, and records of condominiums, cooperatives, timeshares, mobile home parks, and community association managers.

• Imposes mandatory permanent license revocation for community association managers upon their fifth (or third for a specific ground) disciplinary finding, eliminating discretionary penalties.

• Establishes comprehensive governance requirements for condominiums, cooperatives, and homeowners' associations including director qualifications, meeting procedures, financial reporting standards, and restrictions on political/charitable contributions.

• Creates new termination procedures for cooperatives based on economic waste or impossibility, allowing property disposition and proceeds distribution to shareholders through a trustee-managed process.

• Adds protections for association members including anti-SLAPP provisions, requirements for advance notice before unit access (except emergencies), restrictions on board borrowing without member approval, and tenant assessment payment procedures during foreclosure.