RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
This link will take you to an article which illustrates why a competant Managing Agent is critical for an HOA. http://www.csindy.com/coloradosprings/neighborhood-dissociation/Content?oid=2539990
I do not know Mr. Fowler but it appears he did not properly advise the Board members of their fiduciary duties related to common area insurance coverage. Based on many years of experience DARCO HOA Management has found Board members rely on their Managing Agent to guide them in getting needed insurance requirements stated in their CC&Rs; and to secure adequate insurance coverage at the best available cost.
I do not know Mr. Fowler but it appears he did not properly advise the Board members of their fiduciary duties related to common area insurance coverage. Based on many years of experience DARCO HOA Management has found Board members rely on their Managing Agent to guide them in getting needed insurance requirements stated in their CC&Rs; and to secure adequate insurance coverage at the best available cost.