A Quick Tip for New Board Members
New to your Association’s Board of Directors? Here is a key tip that can help you do your job of protecting homeowners’ investments, quality of life, and security, while also helping you avoid being slapped with a lawsuit along the way:
You want to be responsible for your decisions, but not legally responsible. If you’re new to your Board, make sure they have Directors and Officers Liability Insurance. This protects you from personal liability for the decisions you make on behalf of the Board. Can you really afford to be slapped with a discrimination lawsuit from an aggrieved homeowner who genuinely believes their outlandish request for a fuchsia fence was unfairly denied? If not, you’ll want to be insured.
