HOAleader.com - Tip of the Week - April 14, 2017
Published: Fri, 04/14/17
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HOA Board Member Bolts: What You Need to Do
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In this week’s tip, we discuss how to achieve a peaceful transition of power when a board member steps down.
It doesn’t matter the reason for a board member’s departure. It could be due to a regular transition after a vote. Maybe there was a scandal!
Either way, when a board member becomes a former board member, you need to protect the organization and its confidential materials.
There are five policies and procedures that’ll create a smooth transition and “after-life” when board members end their service. Here are the first two:
1. Study up on how to handle it before it happens.
“A key for me when I advise clients is to make sure they understand how vacancies work before a vacancy happens,” says Todd J. Billy, an attorney at The Community Association Lawyers in St. Louis; Billy is a licensed attorney in Missouri and Illinois and has more than 600 active condo and HOA clients.
“Even if it’s once a year, take a peek at your governing documents to see how it would work,” adds Billy. “If you need a legal opinion, you want to have it before someone resigns so you don’t have any delay.”
2. Document the departure.
If a board member is leaving after a resignation—rather than the result of an election—get that resignation in writing, advises Mary Arnold, CMCA®, AMS®, the Austin, Texas-based national director of training and community association management support at RealManage, a San Rafael, Calif., association management firm that oversees properties in Arizona, California, Colorado, Florida, Louisiana, Nevada, and Texas.
“The resignation should be in writing, not just announced at a meeting,” says Arnold. “Then that resignation should be accepted at a board meeting so it’s noted in the minutes that ‘The board accepted the resignation of…’”
Billy agrees. “Make sure you have the right documents, whether it’s in the minutes or in a letter,” he says. “Actually, a formal resignation letter is better than, ‘He told me last week he resigned.’ Then you avoid the ‘I’m revoking my resignation’ issue. You want it to be that the person is off the board now, and we’re done.”
Read all "5 Steps to Take When an HOA Board Member Steps Down" in our new article:
https://www.hoaleader.com/members/2532.cfm
Best regards,
Matt Humphrey
President
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HOA Board Members and Fiduciary Duties:
What You Must Know to Fulfill Your Duty to Your Association and
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Recent articles posted at HOAleader.com:
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5 Steps to Take When an HOA Board Member Steps Down
It doesn't matter the reason for a board member's departure. It could be due to a regular transition after a vote. Maybe there was a scandal! Either way, when a board member becomes a former board member, you need to protect the organization and its confidential materials.
Click here to read full article:
https://www.hoaleader.com/members/5-Steps-Take-When-HOA-Board-Member-Steps-Down.cfm
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HOA Board Members and Fiduciary Duties: What You Must Know to Fulfill Your Duty to Your Association and Protect Yourself from Personal Liability
When you volunteered to serve your community association as a board member, did you realize you were agreeing to set aside your own interests and act as a fiduciary on behalf of the entire association? Are you confident you know every scenario where you might trip up and expose yourself to personal liability by failing to live up to this important duty? Set aside an hour of your time to learn what you need to know and ensure you're not risking your own financial security by making common--but easily avoidable--mistakes while volunteering as an HOA board member. Join us for in an in-depth webinar on April 27.
Click here to read full article:
https://www.hoaleader.com/products/fiduciary-duties-and-hoa-board-members-a.cfm
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What If One of Your HOA Residents Doesn't Have Legal Immigration Status?
Immigration is the topic of this week's tip. That's because it's also a topic that's exploded on the national scene. Many Americans are fiercely invested in this issue, and they seem to be sharing their opinions more and more.
Click here to read full article:
https://www.hoaleader.com/members/What-One-Your-HOA-Residents-Doesnt-Have-Legal-Immigration-Status.cfm
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What's the Immigration Issue Got to Do with HOAs?
Immigration is a topic that's exploded on the national scene. Many Americans are fiercely invested in this issue, and they seem to be sharing their opinions more and more.
Click here to read full article:
https://www.hoaleader.com/members/Whats-Immigration-Issue-Got-Do-with-HOAs.cfm
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Ready for Takeoff: What Will Fly in Your HOA's Drone Policy
In this week's tip, we fire up the engine on your HOA's drone policy. What? You don't have one yet? No worries. We've got you covered.
Click here to read full article:
https://www.hoaleader.com/members/Ready-for-Takeoff-What-Will-Fly-in-Your-HOAs-Drone-Policy.cfm
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