Florida Community Association Manager Practice Exam

What Florida statute pertains to the Not for Profit Corporate Act?

1. FS 607

2. FS 617

3. FS 718

4. FS 720

The correct answer is: FS 617

The Florida statute that pertains to the Not for Profit Corporate Act is indeed FS 617. This statute provides the legal framework governing the formation, operation, and regulation of non-profit corporations in Florida. It encompasses key aspects such as the rights and responsibilities of members, directors, and officers, as well as the governance and potential dissolution of non-profit entities. Understanding this statute is critical for community association managers, especially in the context of homeowners' associations and other community groups that operate as non-profit organizations. These managers need to be familiar with FS 617 as it dictates the compliance requirements and operational guidelines necessary for maintaining good standing under Florida law. Other options, while important, focus on different areas of regulation. FS 607 relates to for-profit corporations, FS 718 pertains to condominiums, and FS 720 addresses homeowners' associations specifically. Each of these statutes serves distinct types of entities, making FS 617 uniquely relevant to non-profit organizations, including community associations operating in a not-for-profit capacity.