Florida Community Association Manager Practice Exam

Which statute discusses association powers related to acquiring memberships or possessory interests?

1. FS 718.111

2. FS 718.115

3. FS 718.1124

4. FS 718.114

The correct answer is: FS 718.115

The statute that discusses association powers related to acquiring memberships or possessory interests is indeed FS 718.115. This section of the Florida Statutes specifically addresses the powers that condominiums and homeowner associations have when it comes to obtaining memberships in other organizations or acquiring interests in property. This statute outlines the ability of associations to purchase memberships or possessory interests that can ultimately benefit the community or enhance the property. The provision emphasizes the necessity for associations to act in the best interests of their members and clarifies the governance structure around these actions. It provides a clear framework on how associations can utilize these powers effectively, ensuring that all actions are aligned with the interests of the members they represent. Understanding this statute is crucial for community association managers as it impacts how they can operate and serve their communities effectively.