Bexar Texas Code of Ethics, Duty of Care of Board of Directors of Homeowners' Association

Name: Bexar Texas Code of Ethics, Duty of Care of Board of Directors of Homeowners' Association
Brand: US Legal Forms
Rating: 4.79 (425 reviews)

Category:

Real Estate - Community Associations

State:

Multi-State

County:

Bexar

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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FAQ

Unhappy homeowners can sue the HOA and the board members individually for any number of reasons; for example, if the HOA fails to properly maintain a common area, or discriminates when enforcing a rule.

No. But it's a way to fine someone and enforce that restriction against the homeowner in court.

A fiduciary duty is a commitment to act in the best interests of another person or entity. Broadly speaking, a fiduciary duty is a duty of loyalty and a duty of care. That is, the fiduciary must act only in the best interests of a client or beneficiary. And, the fiduciary must act diligently in those interests.

Term Limits Texas allows for the first board to serve until the first annual election, with all subsequent members serving until the next annual election. In Arizona, board members may only serve for one year. Florida law allows for officers to serve for eight consecutive years.

The three fiduciary duties board members of an HOA should uphold are the Duty of Care, the Duty of Loyalty, and the Duty to Act Within the Scope of Their Authority.

Liabilities These are amounts owed by your HOA to various vendors, providers, and parties. This will be anything owed by the association such as maintenance fees, improvements, or vendor bills. Anything that costs money will be a liability.

Many governing documents provide that an officer may be removed by a majority vote of the board members, but that an elected board member may only be removed with a vote of the association membership.

Recusal. After identifying a conflict, an involved board member should recuse him or herself from any voting in the issue, as well as refrain from participation or presence in the room when remaining board members discuss the issue. No exceptions. Rules must apply equally to all members, including those on the board.

For this reason, Florida law holds that HOA boards and board members have certain legal and ethical responsibilities toward property owners and shareholders, known collectively as fiduciary duty.

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Owner and Executive Community Association Manager. Be filled in the same manner and shall be subject to removal as the regular members. Sec. 36-123.- Rules and meetings. Chapter 370, Texas Transportation Code. 2.

Bexar Texas Code of Ethics, Duty of Care of Board of Directors of Homeowners' Association

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FAQ

Can HOA board members be sued individually in Texas?

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