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RogerB (Colorado)
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.
FredS7 (Arizona)
Posts: 927
Posted:
If I were hiring HOA management I would expect them to spell competently.
TimB4 (Tennessee)
Posts: 21,062
Posted:
Roger,

Actually, I think board members rely on whomever is perceived as the expert in the area (expert being defined as the one who knows more than they do).
JohnB26 (South Carolina)
Posts: 1,569
Posted:
ignorance of one's fiduciary duty does not relieve one from it

remember, you volunteered for the position, just like many/most other corporate directors

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