Colorado Code of Ethics, Duty of Care of Board of Directors of Homeowners' Association
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FAQ
Legal Protections for HOA MembersColorado has laws that provide protections for members of an HOA. These protections include debt collection practices, foreclosure, and landscaping among other things. The Colorado Common Interest Ownership Act, or CCIOA, is the Colorado statute that governs HOAs.
Establish a strict agenda and let everyone know that it will be followed carefully so as to eliminate any one person taking over the conversation. Give board members a chance to change their ways by having a kind conversation about the problem behavior. Above all, set a good example of what makes a good HOA member.
What Makes a Great HOA Board Member?Enjoy volunteering.Are civic-minded.Are positive and optimistic.Exercise fairness.Know that the rules apply to them, too.Take their role seriously.Have a mind for business.Understand that their authority comes as a board, not a board member.More items...?
Creating a Code of Ethics for HOA Board MembersCommit Yourself to the HOA.Follow Your Governing Documents and Applicable Laws.Disclose and Avoid Conflicts of Interest.Practice Confidentiality.Never Discriminate.Exhibit Professional Behavior.Always Work Within the HOA's Structure.More items...?
HOA board fiduciary responsibility prevents board members from making decisions to further their personal interests. Board members must also avoid an HOA board of directors conflict of interest. This includes choosing a family-related vendor or voting on issues with a bias.
Directors owe a duty to their associations and to their members to perform their duties in accordance with the authority granted to them by statute and in the association's governing documents. If directors exceed this authority, and damage results, the directors may be personally liable for their unauthorized actions.
The HOA Information and Resource Center (The HOA Office)Email HOA questions to the HOA Office (doradrehoainquiries@state.co.us)1560 Broadway, Suite 925, Denver, CO 80202.Phone: 303-894-2166 Toll Free: 800-886-7675.Fax: 303-894-2683.
The duty of care describes the level of competence that is expected of a board member, and is commonly expressed as the duty of care that an ordinarily prudent person would exercise in a like position and under similar circumstances. This means that a board member owes the duty to exercise reasonable care when he or
Duty of loyalty requires HOA board members to act in good faith to promote the best interests of the entire association. HOA board fiduciary responsibility prevents board members from making decisions to further their personal interests. Board members must also avoid an HOA board of directors conflict of interest.
Preserve All Board E-mail Just as e-mail sent at your job isn't private, nor is e-mail private when you're communicating with other board members or owners in your capacity as a board member.
