Restrictive endorsements when coupled with payment are still applicable to associations.
As many may remember, The Florida Legislature amended Florida Statutes §718.116 and §720.3085 to include language relating to the applicability of restrictive endorsements, designations or instruction accompanying payments made for delinquent assessments. Specifically, Florida Statutes §718.116(3) and §720.3085(3)(b) state as follows: Continue reading “Restrictive Endorsement”