All rights reserved. Maintain adequate association, board member and officer insurance. "Fiduciary duty means it's the responsibility of the board to consider things in a businesslike manner and perform due diligence to make good decisions on behalf of the community as a whole," says Michael Daniels, chief operating officer of Skokie-based Cagan Management. "@type": "ImageObject", What You Must Know to Fulfill Your Duty to Your Association and Protect Yourself from Personal Liability. Beavercreek, OH 45440, Phone: 513.401.7850Toll Free: 855.238.8488 What Does Fiduciary Duty Actually Mean? Then, all you need to do is turn in the letter to the HOA manager or appropriate board member. Primary Responsibility of Board Member: Maintain and repair the common areas within your development while making avariety of decisions that affect the living conditions in your community. Homeowners can sue their HOA for several reasons, and one of them is for failing to enforce rules. DoNotPay will automatically generate a complaint letter with a two-week deadline for the HOA or its representative to resolve the issue and reach out to you. For specific legal advice concerning a particular fact situation, please consult an attorney. HOA 101: Understanding the HOA Board of Directors & Its Role Construction Defect, Negligence, Contract, Misrepresentation, Real Estate, and General Counsel for Community Associations in California and Arizona. "image": ", Park has encountered confidentiality issues first-hand while representing an association that had been sued by a homeowner. For instance, if the laws or governing documents prohibit the HOA board from making new rules, then you have no authority to impose them. A breach of a fiduciary duty can lead to personal liability for the individual board member; the association's corporate form will not protect the individual board member from personal liability if the association suffers damage.

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