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What constitutes a conflict of interest regarding an HOA board member?
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More federal public service union members vote for strike mandate
WebJan 27, 2024 · (1) All contracts as further described in this section or any contract that is not to be fully performed within 1 year after the making thereof for the purchase, lease or renting of materials... Web"The loose term is kickbacks," says Ducharme. "But the statute covers any kind of fee for work performed on behalf of the association to the board, and then the board must disclose those fees to the owners. "A companion section to the law says that individual board members owe a fiduciary duty directly to the homeowners," he adds. WebNov 16, 2016 · This is subject to some board member requirements: (1) The board member discloses the relationship in an open board meeting; (2) The board member does not vote on the matter; and (3) The contract or transaction is fair and reasonable as to the corporation at the time it is authorized by the board. brave citizen korean drama