What is the purpose of a Board of Directors and what is their Role?
The Board of Directors is responsible for maintaining the assets of the community, ensuring the financial health of the association, determining the level of services, and establishing policies and/or rules and regulations governing the use of the common areas. In developing communities, the Board of Directors is appointed by the developer. After transition to homeowner control, the Board is elected by the membership. The board has a fiduciary responsibility to do what is in the best interest of the association and to provide leadership in community affairs as dictated by the Governing Documents.
