Condominium associations are largely governed by volunteer directors that receive little training with respect to their fiduciary duties and potential ethical issues that they may face. Each director has a fiduciary duty of care and duty of loyalty to act in the best interest of the association. Unfortunately, many directors blur the lines between what is in the best interest of the association and what is in the best interest of the individual director. The best way to prevent harm to the association by a self interested director is for an association to adopt a code of conduct. Read more…….
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