When homeowners get upset with their HOA board members, they oftentimes accuse directors and officers of violating their “fiduciary duties”. But ironically, most people can neither define “fiduciary”, nor define “fiduciary duties” when asked. So, what does “fiduciary” mean and how does it apply to board members, if at all? These are the questions thisGo to Resource
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The term “conflicts of interest” is often referred to and used in connection with community associations with respect to actions and decisions of board members. However, most people do not know what constitutes a legal conflict of interest as that term is defined by the Colorado Revised Nonprofit Corporation Act (“Nonprofit Act”). The Nonprofit ActGo to Resource
What are policies and why do they exist? The purpose of policies is to set forth a process to be followed with respect to various issues. A policy, in most cases, is a safety net for associations to ensure everyone is being treated the same and the same processes are followed every time. Nine “goodGo to Resource
Football season is right around the corner. For some sports fans this means it is time to dust off the flag of their favorite NFL team and hang it on the garage for all to see. In addition, some homeowners may want to show support for their alma mater as college football rivalries are renewedGo to Resource
Amending a set of covenants/declarations is no easy task. Declaration amendments typically require approval from owners representing at least 67% of the total votes in the association. To make things worse, sometimes we also see requirements for first mortgagee approvals, which means the association must obtain approval from banks to whom owners issue their mortgageGo to Resource