BB2 (Missouri)
Posts: 36
Posts: 36
Posted:
Do the officers/board of an HOA have a "fiduciary" duty to the membership? V.P owns 8 properties is only going to pay for 1 if road project is approved also heading up the project and getting only one bid. The secretary/treasurer without the knowledge of the membership reduced the dues for an owner (2 properties)because he doesn't use one of them the same owner will only be paying for 1 if road project is approved. Nothing in by-laws allows this. Could this be considered a breach of "fiduciary duty"