Defalcation and the Hazards of Board Membership – Lessons from the Fifth Circuit (TX)

Do you serve on your condominium’s board as a fun way to meet your neighbors and test out your governance skills? What seems like a low-commitment diversion can balloon into a stressful time suck – or worse. You may be held personally liable for breaching fiduciary duties to your condo. And if you fall into really bad luck and end up in bankruptcy, you may not even be able to discharge debts for such liability, as a recent Fifth Circuit decision reminds us.  Read the article…………..


Related Articles

Minnesota amends its construction defect laws

Earlier this month we told you that (click here to see the story) about an effort to amend Minnesota’s construction-defect

Why Your HOA Should Contribute to Reserves

HOA boards and committees have to think about not only its community’s residents, but also its finances, taking care of

Appealability/ Homeowner Associations: Nellie Gail/ McMullin Decision Now Published (CA)

In our October 3, 2016 post, we discussed Nellie Gail Ranch Owners v. McMullin, an unpublished 4/3 DCA decision, at