Should BOD Attend This Seminar?

I am on the e-mail list of the HOAleaders.com organization and regularly receive information that the Board members of The Summit's HOA should be reading.

An upcoming webinar on May 14th is titled: "HOA Board Members and Fiduciary Duties: What You Must Know to Fulfill Your Duty to Your Association and Protect Yourself from Personal Liability"

I have written numerous posts about fiduciary responsibility and the potential of exposing themselves to personal liability because of how boards of this HOA operate.

The May 14th webinar will cover:

  • The legal definition of a fiduciary—and the real-life risks you face if you're found to have breached your fiduciary duties
  • The specific responsibilities you carry because of your fiduciary duties, including:
    • What it means to act in a "representative capacity"
    • Understanding the "business judgment rule"
    • How to meet confidentiality requirements
  • Tips to help you understand potential conflicts of interest and how they can trigger a breach of your fiduciary duty
  • Best practices to help you avoid the most common conflicts of interest board members face
  • Information to help you identify when providing full disclosure will diffuse conflicts of interest, along with practical suggestions for doing that properly
  • What you need to know about insurance to protect you from claims of a breach of your fiduciary duty
  • And much more!
The former board president breached his fiduciary duty when he caused the lawsuit to be filed against me in December 2024. The lawsuit was prohibited by the CC&Rs. The lawsuit was filed in the name of the Association but was never approved by the Board of Directors.

The rest of the Board breached their fiduciary duties when they allowed him to do it by not objecting and by looking the other way every time the HOA paid a bill from the lawyers for the case. Board Treasurers allowed thousands of dollars to be paid as illegal disbursements of HOA funds.

An annual membership in the HOAleaders.com organization costs $119.00. This webinar costs $69.00 and all board members can attend.

That's less than the cost of one hour of legal advice. Is it worth it?

Board members think they are protected by the Directors & Officers (D&O) Liability Policy for which the HOA pays a premium. They would be protected if they were legitimate, duly-elected board members, but they are not.

Past boards have operated on the cheap by not getting legal advice when they needed it. 

You've probably heard, "Pay me now, or pay me later". Those words are from a Fram oil filter commercial in the 1970s. It was true for oil filters. It's true for legal advice.

Claiming they are "just volunteers" won't cut it. 

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