The term “conflict of interest” is used often and quite loosely in the HOA industry. But did you know “conflict of interest” actually has a legal definition? More particularly, the definition is set forth in the Revised Nonprofit Corporations Act (“Nonprofit Act”), which definition is specifically referenced in and adopted by CCIOA. Pursuant to SectionGo to Resource
Liabilities Resources
FHA Condominium Certifications: The Requirements and Prohibitions
Introduction The Federal Housing Administration (“FHA”) is a government-owned insurance company that insures home loans for buyers who cannot afford a conventional down payment or prefer to use their available funds in other ways. In other words, a FHA backed loan allows a home buyer to purchase the home with a smaller down payment thanGo to Resource
Associations are oftentimes confused with the police. After all, it is not atypical for community managers or board members to receive calls from owners complaining about crime in their communities and demanding the associations do something about it. Whether it’s alleged drug use, car theft, or domestic violence, associations seem to be the first placeGo to Resource
In all the years I’ve been practicing law, and particularly HOA law, there is one thing I learned for certain: Most people hate insurance. Why? Because insurance documents are difficult to understand and confuse many who attempt interpretation of them. Thank goodness boards and managers have insurance professionals to rely upon! This leads me toGo to Resource