HOA board members are given the authority to fulfill their duties and responsibilities. In exchange, they accept a fiduciary duty on behalf of the homeowners. As fiduciaries, board members have a legal duty to promote the wellbeing of the association, make sound and informed decisions, and act...
“In New Jersey, The Condominium Act sets forth the duties and responsibilities of a condominium association,” explains Melissa Clarke, an associate attorney with the law firm of Lomurro, Davison, Eastman & Munoz P.A. in Freehold. According to Clarke, an association is governed by both a m...
If the HOA management company is remote or otherwise limited in its duties and responsibilities, the records will likely be digital. If the management company maintains an on-site office and/or manager, the records will probably be physical to some extent. ...
regulating many aspects of the homeowners’ daily lives. Upon analysis of the association’s functions, one clearly sees the association as a quasi-government entity paralleling in almost every case the powers, duties, and responsibilities of a municipal government. As a ‘mini-government,’ the a...
The mission of the Waterford Pointe Homeowners Association is to provide the proper operation and management of this community's affairs. This Board is responsible for carrying out these duties and responsibilities as detailed in our articles of incorporation, covenants, bylaws, rules, and other gover...
Essentially the lawbook by which everyone in the community abides, an association's governing documents detail specific board tasks, powers, and duties. While association residents elect the members of the board, their responsibilities are unique to their HOA—and each community operates differently. ...
An HOA treasurer’s responsibilities are extensive, covering everything from collecting dues to maintaining compliance with state and HOA-specific guidelines. While exact duties can vary depending on the association’s governing documents, the core tasks generally include the following: ...
a large co-op community in New York City. “It talks a lot about the election of the board, the terms or the board, the ability of the board to have committees, and delegate duties and responsibilities. It deals with a lot of what I call ‘the fundamentals.’ The very serious stuff...
Some HOA master insurance policies may also offer coverage for directors and officers (D&O) liability. This coverage protects the HOA board members and officers from claims or lawsuits alleging wrongful acts, errors, or omissions in their duties. D&O liability coverage provides financial protection for...
The Meadowridge Board of Directors does not conduct day-to-day business such as accounting, overseeing the landscapers, other contractors and administrative duties. This has been contracted toFleming Properties, LLC. For payment of the semi-annual dues ($375/6 months), contact WCM. Dues Assessme...