Investment of Association Funds
Modified: June 30, 2025
Article
Condominium & Cooperative Associations
Investment of Association Funds
pp. 62–63, 142; §718.111(16) and §719.104, F.S.
Requires an association’s board, in fulfilling its duty to manage operating and reserve funds, to use best efforts to make prudent investment decisions that carefully consider risk and return in an effort to maximize returns on invested funds.
Allows an association, including a multicondominium association, to invest reserve funds in one or any combination of certificates of deposit or in depository accounts at a community bank, savings bank, commercial bank, savings and loan association, or credit union without a vote of the unit owners.
Effective date: July 1, 2025, unless otherwise provided in the bill.
Chapter No. 2025-175, LOF