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Boards of directors have a fiduciary duty to the property owners; violation of that duty may result in liability for individual directors, and as such the HOA will often adopt an ethics code for the board members to ensure they act ethically and in accordance with their responsibilities. [23]
The HOA president is the CEO of the ... of making all sorts of decisions without having a board meeting first. ... charged with carrying out the duties and responsibilities of the association ...
Generally, acts approved by a majority of the Directors present and voting at a meeting at which a quorum exists constitute the acts of the Board of Directors. Lee-Anne Bosch
Board meetings, like the boards of government agencies, are generally open to HOA members, with some exceptions. As with government agencies, courts generally defer to the broad discretion HOAs enjoy in discharging their duties. [6] The HOA is also allowed to charge regular fees to homeowners within the development (comparable to taxes).
Neighborhood associations are more likely to be formed in older, established neighborhoods, especially those that predate HOAs. HOAs are generally established at the time a residential neighborhood is built and sold. Sometimes older established neighborhoods form an HOA to help regulate rules and standards.
Your condominium association elections for your Board of Directors are primarily governed by two chapters of the Florida Statutes: the Florida Condominium Act (Chapter 718) and Florida’s Not-For ...
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A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws ...