On January 5, 2023, the Federal Trade Commission (commonly known as the “FTC”) issued a Notice of Proposed Rulemaking to ban the use of noncompete clauses by employers nationwide. True to their name, noncompete clauses block workers from working for competitors, or starting a new competing business, after employment ends for a set period.
LIBOR, formerly known as the London Interbank Offered Rate, was the key benchmark for setting interest rates charged on adjustable-rate loans, mortgages, and corporate debt for more than 40 years. However, LIBOR is being replaced by the Secured Overnight Financing Rate (SOFR) which is considered a more accurate and more secure pricing benchmark.
With profound sadness, we announce the loss of our colleague and dear friend, Ricardo A. Gonzalez. Rick was an exceptional lawyer specializing in complex commercial litigation and regulatory defense and compliance. Rick passed away on September 25, 2022.
The Florida Office of Insurance Regulation (OIR) has approved the 2021 American Land Title Association (ALTA) forms for use in Florida. OIR has approved use of the new ALTA 2021 Policy forms starting October 3, 2022. The new forms include a new Commitment, Loan and Owner’s Policies, Short Form Residential Loan Policies, as well as the following Endorsements.
Businesses with a presence in or customers who are residents of California and who have revenue over $100 million per year will soon be required to file semiannual reports with that state’s Attorney General, self-reporting their content moderation policies on hate speech, extremism, and disinformation.
Effective July 1, 2022, landlords of transient or non-transient apartments in Florida are required to perform background checks on all employees and licensees. Such background checks, which are a condition to employment, are required to be performed by a consumer reporting agency in accordance with the Fair Credit Reporting Act, and must include screening of criminal history records and sexual predator and sexual offender registries of all fifty (50) states and the District of Columbia. If the background screening of a prospective employee reveals that the prospective employee has been convicted or found guilty of, or entered a plea of nolo contendere, regardless of adjudication, of certain criminal offenses, the landlord may find the prospective employee ineligible for employment.
Using joint checks is an important tool in the construction industry. Joint checks can affect all parties to a construction project. However, joint checks, can create a host of problems. This blog discusses the benefits of joint checks, the legal consequences that can result from joint checks, and how to address potential issues.
Senate Bill 4D, which requires regular building inspections and requires condominium associations to maintain reserves, unanimously passed both the Florida House and Florida Senate on May 24th and 25th respectively. Governor DeSantis signed the bill on May 26th.
On March 28, 2022, the White House released its Fiscal Year 2023 Budget (the “FY23 Budget”), and concurrently, the U.S. Treasury released the General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals (commonly known as the “Green Book”).
Despite inflation, rising interest rates, increased construction costs, and supply chain issues, investors, developers, and lenders all agree that the outlook for Southeast multifamily investment and development is bright. The Southeast Multifamily Forum provided the latest market data, analytics, and analysis of the Southeast multifamily market. Data presented at the Southeast Multifamily Forum on the Southeast multifamily real estate market, opportunities, challenges, and trends is highlighted below.
An automated external defibrillator (AED) is a portable medical instrument that delivers an electrical impulse to the heart to disrupt and correct an otherwise fatal irregular heartbeat (arrhythmia) and allows a normal rhythm to resume. AEDs have been credited with saving countless lives by making it possible for non-medical individuals to respond to a medical emergency, leading the question whether AED’s should be installed in community association facilities.