Saturday, December 20, 2014
How liable are condo board members for bad decisions
Board members must "work in good faith, stay reasonably informed and only take actions in furtherance of the legitimate interests of the condominium association they represent. . . . Under the business judgment rule, officers would still be liable for instances of fraud or negligence and actions can be overturned where they fail to adhere to the association’s instruments and procedures."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment