Board president threatens to refuse to sign loan documents (IL)

/ Owner - May 2, 2025

Q. Our condominium association board recently approved a bank loan to pay for a large common element replacement project. A majority of the board approved both the loan and the project at an open board meeting. Our board president, however, was not in favor of the loan and voted against it. The board president has now threatened that he will not sign the documents necessary to close the loan. What can the board do when a board president or other officer will not sign documents that have been properly adopted by the board?     Read the Q&A………………………………..

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