Florida Community Association Manager Practice Exam

True or False: Records must be kept longer if otherwise stated by the association?

1. True

2. False

3. Depends on the type of record

4. Only if contractual obligations require

The correct answer is: True

The statement is true because Florida law and community association regulations stipulate that records of the association should be retained for a minimum period, but these minimum retention periods can be extended if the association's governing documents specify longer durations. This means that if the bylaws, declarations, or other association rules dictate a longer retention period for any specific records, then those stipulated timeframes must be adhered to. Additionally, keeping records for extended periods can be beneficial for the association to maintain a comprehensive history of operations, decisions, and actions, which can be crucial for legal, financial, or operational transparency and accountability. The other options may address valid considerations but fall short of capturing the importance of adhering to the specific directives laid out by the association itself. Recognizing the authority of the association's governing documents is fundamental in determining record retention requirements.