Another important function of the association’s board of directors is to enforce governing documents. Unfortunately this function is often viewed with disdain by owners against whom enforcement is being sought. Owners on the receiving end of enforcement proceedings often feel that they are being unfairly singled out. When taking action, an association’s board must strive […]
Tag: Protect
HOA Board Function: Protect Assets
Part of a board member’s fiduciary obligation is to protect the assets of the association. In addition to money in the bank, these community assets may include tennis courts, golf courses, pools, tot lots, utility rooms or other recreational areas within the association. Often these assets are valued in the millions of dollars. In attempting […]