Q If a co-op gets the run around from its board about finances, and there is evidence of mismanagement, how can a resident shareholder organize to get other residents together and collectively hire their own attorney to represent them?

—Looking for Relief

A “The following does not substitute for the legal counsel of a Florida attorney based upon the specific factual circumstances involved and the subject cooperative’s bylaws,” says attorneys Michael Freed, Matt Jackson and Emily Friend of Brennan, Manna and Diamond, a law firm in based in Jacksonville and Bonita Springs, Fla.

“However, under section 719.303(1), Florida Statutes, any unit owner may bring an action for damages, injunctive relief or both against the Association, another unit owner, certain directors designated by the developer, a tenant leasing a unit, an invitee occupying a unit or certain director (for willful and knowing violations) who violated the cooperative’s bylaws and/or Florida Statutes regarding cooperatives. If a unit owner sues the Association under this section and prevails, s/he is entitled to reasonable attorneys’ fees, and may be able to recover additional amounts as determined by the court to be necessary to reimburse the unit owner for his or her share of assessments levied by the Association to fund its expenses of the litigation.

“Moreover, a cooperative’s board of administration, which is responsible for administration of the Association, has a duty to maintain copies of certain official records, including those related to the association’s finances. Fla. Stat. § 719.104(2) (2010).Any unit owner must be provided access to these records, upon written request within five (5) working days. If the association’s board is giving the “run-around” to unit owners by denying access to these records, any unit owner has the right to institute an action and to recover reasonable attorneys’ fees expended to ultimately gain access to the certain records and $50.00 per calendar day access has been denied for up to ten (10) days (beginning on the eleventh (11) day after receipt of the written request). Additionally, pursuant to the same statute, the board must annually provide an accounting to unit owners with a complete financial report of actual receipts and expenditures for the previous twelve (12) months, and the officers and directors of the association are caused with having a fiduciary duty to the unit owners. Depending on the situation, violation of these responsibilities (including mismanagement), may be a violation of Florida Statutes and/or the cooperative’s bylaws. Under such circumstances, unit owners may bring suit, and be entitled to those fees, costs and damages delineated above upon prevailing.”