Is it important that Association Board members understand the various governing documents?
It is very important but not mandatory that Association Board members read and understand the various governing documents. Board members are elected to fiduciary positions, a position of trust. If a Board member does not comprehend these documents, it may be difficult to make decisions in the best interest of the members (the owners), a position for which they have volunteered. Frequently, the Declaration or other governing documents contain a duties or powers and duties section for Board members. A typical duty is to enforce and uphold the governing documents. In addition to the governing documents, it is important for Board members to read and understand the annual budget, reserve studies, management reports and legal opinions that affect the Associations operations, master plans and any other significant documents of the Association.
Related Questions
- Is membership to IISc Alumni Association different from the membership to various chapters (for example, Bangalore chapter)?
- How long does it take to learn to read and understand Japanese books, newspapers or business documents?
- In general, how are various retirement dates and/or classes of members affected byStrunk/Eugene?
