Florida Statutes 719.110 – Limitation on actions by association
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 719.110
- Association: means the corporation for profit or not for profit that owns the record interest in the cooperative property or a leasehold of the property of a cooperative and that is responsible for the operation of the cooperative. See Florida Statutes 719.103
- Board of administration: means the board of directors or other representative body responsible for administration of the association. See Florida Statutes 719.103
- Cooperative: means that form of ownership of real property wherein legal title is vested in a corporation or other entity and the beneficial use is evidenced by an ownership interest in the association and a lease or other muniment of title or possession granted by the association as the owner of all the cooperative property. See Florida Statutes 719.103
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- Unit: means a part of the cooperative property which is subject to exclusive use and possession. See Florida Statutes 719.103
The statute of limitations for any actions in law or equity which a cooperative association may have shall not begin to run until the unit owners have elected a majority of the members of the board of administration.