The Real Deal Miami

Condo insurance bill could become law

May 06, 2009 10:48AM

The state legislature has passed a bill to clarify insurance requirements for condominiums, a measure that could offer some struggling condo associations some relief from dire financial situations. However, said Donna Berger, executive director of the Community Advocacy Network, which lobbies for condo and homeowner associations, the lawmaking tradeoff quashed some other proposed reforms that would make lenders more responsible for foreclosed units. Governor Charlie Crist has 15 days to sign the bill into law.