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LEGAL UPDATE FOR OFFICERS OF PROPERTY MANAGEMENT FIRMS: CORPORATE OFFICERS ARE NOT PROTECTED BY THE BUSINESS JUDGMENT RULE

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The Business Judgment Rule (Rule) is a major protection for members of a board of directors.  The Rule protects board members for decisions that are reasonable exercises of business judgment, and whose actions are not an express violation of law, and whose actions are discretionary in nature.  The Rule protects…
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WHO IS THE RIGHT CONTRACTOR FOR THE ASSOCIATION: THE ONE WITH THE RIGHT INSURANCE.

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All too often an association hires the contractor that submitted the lowest bid.  This is not always the prudent choice.  Sometimes the lowest priced contractors are working for less than their competitors because they do not have the same quality of insurance as the higher priced contractor.  A majority of…
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