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Breach of Fiduciary Duty

by Directors of Homeowner Associations

 

Written by Attorney Michael T. Chulak

Directors of homeowner associations owe a fiduciary duty to the association and its members. This means that every director must:

Place the interest of the association and its members above his or her own interests;
   
Be absolutely loyal to the association;
   
Avoid or disclose in writing any actual or potential conflicts of interest;
   
Recuse himself or herself from voting on any matter where he or she has a conflict of interest or potential conflict of interest with the association;
   
Comply with the law at all times in performing his or her duties as a board member; and
   
Be truthful at all times in communicating with other board members.
   

 

 

 
 





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