This course outlines the duties of Directors and Officers, explains the potential liabilities they face when they fail to execute these duties competently and ethically, and instructs them in how to fulfill their obligations to condominium associations with proficiency and integrity (Discounts are available for Condominium Boards or Property Management Companies by calling us at 1-800-521-9667).
Directors and Officers of Condominium Associations
TIME TO COMPLETE
To help individuals acting as Directors and Officers of incorporated Condominium Associations understand the basic laws, rules, regulations, and duties that govern conduct in their capacity as Directors and Officers in order to minimize the potential for liability resulting from their actions.
After completing this course, the learner will be able to:
- understand the nature of condominium ownership and the corporate structure of a Condominium Association;
- understand in broad terms the fiduciary duties of Directors and Officers of Condominium Associations;
- identify the essential elements of the Duty of Care that Condominium Association Directors and Officers must follow so that they may recognize and address situations that could create liability for them and the association;
- identify the essential elements of the Duty of Loyalty that Condominium Association Directors and Officers must follow so that they may recognize and address situations that could create liability for them and the association;
- define the Business Judgment Rule and understand the requirements Directors and Officers must meet to be afforded its protections; and
- identify the common mistakes that Condominium Association Directors and Officers must avoid to perform their duties successfully and not incur liability.
- The Nature of Condominium Ownership
- The Corporate Structure of Condominium Associations
- The Fiduciary Duties of Directors and Officers
- Duty of Care
- Duty of Loyalty
- The Business Judgment Rule
- Common Mistakes to be Avoided by Directors and Officers
Condominium Law Reference List