Florida Code of Ethics, Duty of Care of Board of Directors of Homeowners' Association

Category:

Real Estate - Community Associations

State:

Multi-State

Control #:

US-1127BG

Format:

Instant download

Description

Homeowners require their properties to be properly maintained; they expect a healthful living environment; and they anticipate the Board of Directors will function efficiently and effectively and provide a financially sound organization. Accordingly, the services provided by the Board of Directors require honesty, impartiality, fairness and equity, and must be dedicated to the protection of the public health, safety, and welfare. Board of Directors must perform under a standard of professional behavior that requires adherence to the highest principles of ethical conduct. Board Members, therefore, must be eager to maintain and improve the standards of their calling and share with their fellow homeowners a common responsibility for its integrity and honor. As such, Boards of Directors pledge to observe its spirit in all of their decisions and to conduct the business of the association in accordance with the creed set forth.

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Florida Bylaws of Homeowners' Association

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Florida General Code of Executive Ethics for all Corporate Executives and Members of the Board of Directors and Committees

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FAQ

The simple answer is NO. HOA rules cannot override state law.

A board of directors is a requirement for a homeowners association to function properly. These elected volunteer officials are responsible for all operations of the association and ensuring the community governing documents are followed and enforced.

Even though Board members have a fair amount of protection under the law, it is actually a fairly common occurrence in Florida for Board members to be brought into lawsuits as direct Defendants.

A: Yes. Any time a quorum of the board meets to discuss association business, a board meeting occurs. Generally, board meetings are open to unit owners, subject only to two exceptions.

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...?

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.

The Florida legislature has incorporated the fiduciary duty rule in both the HOA Act and the Condominium Act, both of which expressly state the officers and directors of an association have a fiduciary relationship to the members who are served by the association.

Main Duties of HOA Board MembersEnsure Compliance to Laws and Governing Documents.Maintain Common Areas.Enforce HOA Rules and Regulations.Manage HOA Finances.Conflict Resolution.Duty of Care.Duty of Loyalty.Duty to Act Within the Scope of Authority.More items...