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“Not only did Mr. Alzate’s alleged activities allow our charged HOA Board members to continue their thefts, but the actions were a deliberate slap in the face to our Circuit Court Judges and ...
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 ...
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 ...
The Hammocks Community Association is the largest HOA in Florida, with over 6,500 units and 25,000 residents. ... The current and former board members of Hammocks Community Association and ...
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]
Last year, HOA board members faced charges of racketeering, money laundering, fabricating evidence and using shell companies. Monthly maintenance fees had been jacked up 400% without any real ...
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 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 ...