Tag Archives: stories

A Board Member’s Fiduciary Duty

Handshake

How board members effectively perform their voluntary duties directly affects the success of their associations.

There is a wealth of resources available to directors to assist in understanding and meeting their fiduciary responsibilities. Not only are there books, pamphlets, magazines and newsletters, but there are professional advisors such as attorneys, accountants, reserve advisors, engineers, architects, insurance brokers and professional community association managers. These consultants are among the paid advisors whom you may engage to advise or help directors understand and comply with their legal standard of care, their fiduciary responsibility.

In successfully-run associations, members of the board of directors possess good communication skills, carefully plan ahead, make good judgments based on sound decision-making practices, delegate work to qualified committee or advisors, exercise initiative and independent thinking and work well together as a team.

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A Board Members Fiduciary Duty

How board members effectively perform their voluntary duties directly affects the success of their associations.

There is a wealth of resources available to directors to assist in understanding and meeting their fiduciary responsibilities. Not only are there books, pamphlets, magazines and newsletters, but there are professional advisors such as attorneys, accountants, reserve advisors, engineers, architects, insurance brokers and professional community association managers. These consultants are among the paid advisors whom you may engage to advise or help directors understand and comply with their legal standard of care, their fiduciary responsibility.

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Avoiding Negative Media Attention

Avoiding Negative Media Attention


Let’s face it; the media loves to paint homeowners associations as evil, out-of-control miniature governments run by dictatorial boards of directors intent on destroying the lives of the innocent homeowners living in the community. Virtually every news story on this topic, be it newspaper or television, portrays the homeowners association in a negative light, and seldom does the coverage ever present the many positive aspects provided by the homeowners association in helping to maintain the quality of life and home values for those living in the community. It’s also interesting to note how these news reports always seem to increase during legislative sessions when someone in state government is proposing legislation to place further operational restrictions on homeowner associations.

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