FL H0465

Community association managers and management firms must obtain errors and omissions insurance with a minimum $1 million combined single limit, separate from any association-provided coverage

Condominium, cooperative, and homeowners' associations with total annual revenues of $750,000 or more must contract with a licensed community association management firm

Multicondominium associations must contract with a community association management firm regardless of revenue level

Community association managers convicted of first-degree felonies, capital felonies, money laundering, theft, or embezzlement will have their licenses immediately revoked and are permanently barred from future licensure

Board members and officers have a duty to verify that any community association manager or management firm is properly licensed before entering into a contract; effective January 1, 2027