Fiduciary Duty and What it Means for Your HOA Board

Just try saying that five times fast. Not only is it a serious mouthful, it also carries serious legal obligations and potential consequences. As board members, your community has entrusted you with the “power” to make decisions on their behalf and in the best interest of the community. It is your obligation to remove your “homeowner’s hat,” act as an officer of a corporate board, and exercise the best business judgment possible. To help your board avoid any breaches in fiduciary duty, we’ve got a few simple ways to help you navigate your duties easily.  Let’s talk about the three basic parts of a board member’s fiduciary duties:     Read the article…………


Tags assigned to this article:
boardscondofiduciary responsibilityHOA

Related Articles

Disaster Recovery & Rebuilding

Powerful weather events such as hurricanes are dangerous reminders of the importance of proper planning, emergency preparedness, and the need

Meeting Minutes – An overview for board members

Since board meeting attendance is commonly low, how can the board keep the unit ownership up-to-date with the latest board

Video of Furniture Being Blown Off Balconies at Miami Condo Tower During Recent Thunderstorm Makes Local, National News

In case you missed it, the recent video of patio furniture being blown off of balconies at a downtown Miami