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Alzate is the cousin of former HOA President Marglli Gallego, who was one of the five people first arrested and charged in November 2022 for several financial crimes victimizing the HOA, the state ...
HOA board members will be required to complete a state-approved educational course covering financial literacy and transparency, fines, recordkeeping and meeting notices. Directors of HOAs with ...
Boards of directors have a fiduciary duty to the property owners; violation of that duty may result in liability for individual directors, and as such the HOA will often adopt an ethics code for the board members to ensure they act ethically and in accordance with their responsibilities. [23]
Also charged Tuesday were current board member Myriam Arrango Rogers, 76, who is facing racketeering and grand theft charges, as is 52-year-old Monica Isabel Ghilardi, the current HOA president.
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 ...
The HOA president is the CEO of the not-for-profit corporation, with all of the general powers and duties normally associated with that role. HOA Q&A: Can an Association president make decisions ...
The business judgment rule is a case-law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fides regard for the interests of the corporation whose affairs ...
Section 617.0802(2) provides a further qualification for grantors and beneficiaries of trusts in which the trust owns property and who wish to serve on the Board of Directors for a condominium ...