FL 718 Statute - Legal Insurance Coverage For Board Members
I am a unit owner in a condominium of 100 units in Florida. We have requested and the board has agreed on a forensic audit for 2006. If the 2006 board members need legal advice, can they use the CONDO insurance company that covered them in 2006 to help them with lawyer advice? Many unit owners believe that the legal condo coverage afforded the 2006 board still covers them now (even though they are NO LONGER on the board of directors) and that they will NOT have to hire private attorneys to protect themselves. Is this true? Please reply and provide the 718 statute if there is one covering this area.
Many thanks!!!
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