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Residents of Schalamar Creek in Polk County must pay attorney fees of $366,000 over a failed lawsuit filed against the park's owners and others. Polk seniors carry regrets, $366,000 burden after ...
The HOA’s efforts to stonewall the investigation are still continuing — recently, the board filed a federal lawsuit against the State Attorney’s Office to block enforcement of subpoenas ...
The HOA board said that insurance companies would no longer insure the complex in a few years if it didn’t have the necessary reserves to pay for new roofs. Read more: ...
Depending on the state, board meetings may be required to be open to the public, except in instances where a board may enter into an "executive session" for discussion on confidential matters (e.g. discussions with its attorney on an upcoming lawsuit). The board of directors makes decisions regarding the HOA, including management of the HOA's ...
In 2021, the most recent data shows, there were more than 10,000 associations in the state, with over 2.4 million people living in them. This means homeowners associations, commonly referred to as ...
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
Smith v. Van Gorkom 488 A.2d 858 (Del. 1985) [1] is a United States corporate law case of the Delaware Supreme Court, discussing a director's duty of care. It is often called the "Trans Union case". Van Gorkom is sometimes referred to as the most important case regarding business organizations because it shows a unique scenario when the board ...
For Millennium Towers, the HOA retains the right to increase fines for window violations to $10,000 per event, if the board were to vote for it per their bylaws. A property attorney who deals with ...