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We recently held a basic training for Board Members at our Nevada Division. Attendees received an overview of the basic things one would need to know on rules, roles and how to run a meeting. With such useful information compiled for the event, we thought it would be great to share with those in the Community Association world. We're already on Part 5, so head to our blog to read the first four, then join us as we share an even deeper look inside our Board Member Boot Camp! 

 

Today we are touching on how to avoid liability: 

 

- Rely upon your professional manager 

- Read and understand your governing documents 

- Stay informed of changes in the law 

- Handle issues in a timely manner 

- Consult with outside professionals before making decisions. This could be: 

     a. Your professional manager 

     b. Accountants 

     c. Attorneys 

     d. Architects 

     e. Reserve Study Specialists 

     f. Contractors 

     g. Engineers 

     h. Landscapers 

     i. Insurance Agents 

- Avoid conflicts of interests (no gifts or other compensation that would improperly influence their decisions) 

- Keep proper records 

- Ensure your community is adequately protected 

- Adequately funding reserves 

- Be respectful of other Directors and owners 

- Association meetings (there are 3 types which we will touch on in the coming weeks!) 

 

Want to learn more? Stop by these additional posts: 

Part One - What are the roles of Association Representatives? 

Part Two - What is required of a Board Member? 

Part Three - Fiduciary Duties of Directors 

Part Four - Business Judgement Rule 

Part Six point One - What is a Board Meeting?