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Board of Directors › Homeowners Association (HOA) › Fiduciary Duty

Ward and Smith, P.A.

Who Wants to be a Director? Understanding Community Association Board Member Fiduciary Duties

Ward and Smith, P.A. on

The law provides that nonprofit corporations, including community associations, must "act" through their board of directors. The board of directors is (typically) made up of community members who volunteer to serve as...more

Balch & Bingham LLP

In ‘Case’ You Missed It: Alabama Supreme Court issues opinion clarifying the rules controlling nonprofit corporation governance

Balch & Bingham LLP on

If you have ever been to the Flora-Bama, chances are you have passed by the Caribe Resort in Orange Beach, AL. The Caribe, like many beach resorts, is a condominium building containing individually owned residential units...more

Ward and Smith, P.A.

Serving on Your Community Association’s ARC, ACC, or ARB? Take Note to Whom Your Fiduciary Duties Are Owed

Ward and Smith, P.A. on

Residents of planned communities often must obtain approval prior to making any modifications to their homes and lots. Through their declaration of covenants, conditions, and restrictions - commonly referred to as the...more

Ward and Smith, P.A.

Call of [Fiduciary] Duty: How Good Faith, Due Care, and Loyalty Guide Community Associations' Boards

Ward and Smith, P.A. on

Nearly 30 percent of North Carolina's population lives in a community association of some sort, be that a condominium or single-family community. Yet, confusion among the general population about the nature of community...more

Sands Anderson PC

Approval of Annual Membership Meeting Minutes: Board vs Membership

Sands Anderson PC on

Per the Virginia Nonstock Act sections referenced in this post, the board of directors of an incorporated non-stock association is charged with approving all matters which are not specifically reserved to the members per the...more

Shumaker, Loop & Kendrick, LLP

Condominiums and Conflicts of Interest: How to interpret the rebuttable presumption

Shumaker, Loop & Kendrick, LLP on

The legislature recently amended Chapter 718 of the Florida Statues, relating to condominiums, to create a rebuttable presumption that a conflict of interest exist in certain situations.[1] A conflict of interest is a real or...more

Allen Matkins

Are A Breach Of Fiduciary Duty And A Breach Of Governing Documents “Non Bis In Idem”?

Allen Matkins on

Last week, I discussed the Court of Appeal’s consideration of whether the business judgment rule protects a director from claims based on breach of the corporation’s governing documents. See Does The Business Judgment Rule...more

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