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…………

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