Dolphin Key Condominium Association, Inc.

Key facts from Dolphin Key Condominium Association, Inc.'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.3: DOLPHIN KEY, A CONDOMINIUM)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Section 2.1)

Assessments & dues

Board prepares budget, determines and allocates assessments among Unit Owners (Section 11)

Special assessments

Special and Capital Improvement Assessments may be levied; if aggregate exceeds $10,000 or causes total >115% of prior year, must be approved by majority of Units present at a quorate meeting (Section 12.2)

Collections & liens

Association has lien on each Unit; may foreclose like mortgage; may accelerate installments (Section 12.3)

Reserves & fees

Reserves required by Act; included in Common Expenses (Section 2.9(a))

Voting & meetings

Each Unit entitled to one vote; combined Units retain two votes (Section 5.2)

Amendments

Amendments by Association require affirmative vote of >2/3 of Units; Developer may amend unilaterally to correct errors, comply with law, or gain lender/title insurer approval, except for material amendments (require joinder of affected Own (Section 6)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.