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Do the directors have a fiduciary relationship with unit owners?

April 26, 2017Directors Fiduciary owners relationship

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Do the directors have a fiduciary relationship with unit owners?

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Directors have a fiduciary relationship with the unit owners, and must use the highest degree of good faith in placing the interests of the unit owners above their own personal interests. This fiduciary relationship imposes obligations of trust and confidence in favor of the association and its members. It requires the members of the board and licensed managers to act in good faith and in the best interests of the unit owners. It means that board members and managers must exercise due care and diligence when acting for the community. Condominium Act: Section 718.111(2)-(13), F.S.