Florida Community Association Manager Practice Exam

Which of the following must be filed by Condos with the DBPR within 120 days?

1. Only the articles of incorporation

2. The declaration of covenants only

3. Bylaws and financial statements

4. $20 per unit that is to be constructed

The correct answer is: $20 per unit that is to be constructed

The requirement for condos to file certain documents with the Department of Business and Professional Regulation (DBPR) within 120 days is significant in ensuring compliance with Florida statutes governing condominium associations. The correct answer pertains to the requirement of submitting a fee, specifically $20 per unit that is to be constructed. This fee is important because it helps to fund the regulation of condominium developments in Florida. The DBPR must be informed of new constructions to adequately oversee the development in accordance with state laws. By collecting fees on forthcoming units, the state can better allocate resources for inspections and other regulatory activities. In contrast, while articles of incorporation, declarations of covenants, and bylaws are important documents for a condominium association, they do not have the same specific filing time frame with the DBPR as the fee associated with the construction of new units. Understanding the timing and nature of these filings is essential for community association managers to ensure compliance and smooth operation of condominium associations.