Many associations require their contractors to present certificates of insurance as evidence that the hired company has insurance. The certificate often used, called an ACORD certificate and contains information including, but not limited to the following: basic policy details, such as policy numbers, descriptions, limits, deductible amounts, and identity of carriers;provides that the certificateGo to Resource
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Oftentimes, when owners get on the board of directors, they have no idea what they are getting into and the tremendous importance of their responsibilities as directors. Furthermore, such individuals may also have no idea what type of liability exposure they are taking on by serving on the board and what types of protections areGo to Resource
All too often an association’s board of directors wants to end a relationship with a vendor only to find it overly burdensome or expensive termination provisions in the vendor’s contract. The board may have relied on a history with the vendor or oral representations made by the vendor’s representative without fully reviewing the termination languageGo to Resource
Recalling and removing a Board member can be one of the most contentious issues facing an association. It is best that recall efforts be reserved for situations in which a director has breached his or her fiduciary duties or has otherwise engaged in some type of unlawful activity. Personality conflicts and/or personal vendettas should typicallyGo to Resource
As we start 2018 with a fresh and clean slate, now is the time to pull out our list of New Year’s resolutions and decide what we want to tackle first. Perhaps one of those resolutions was to minimize your association’s liability exposure, and more specifically, to minimize the liability exposure when it comes toGo to Resource