The Reef Declaration of Condominium Document includes Exhibits A through L as follows:
For exhibits E – L: See Index of Contents and Exhibits in Declaration of Condominium Document
Reef Ocean Resort Association Inc. Condominium Documents were revised and presented after the 2008 November annual homeowner’s meeting.
State of Florida Regulations
All timeshare associations are subject to The Florida Statutes Condominium Act, Chapter 718
Florida Statutes Vacation and Timeshare Plans, Chapter 721.
Board of Directors Responsibility As The Managing Entity.
Chapter 721.13 of The Florida Statutes says,
“During any period of time in which such association has entered into a contract with a manager or management firm to provide some or all of the management services to the timeshare plan, both the board of administration and the manager or management firm shall be considered the managing entity of the timeshare plan and shall be jointly and severally responsible for the faithful discharge of the duties of the managing entity.”
The managing entity must at all times act in the capacity of a fiduciary to the purchasers of the timeshare plan, i.e. act in the best interests of the owners when managing the affairs of The Reef Ocean Resort.