BOARD OF DIRECTORS

The general duties of the directors is to enforce the association's governing documents, collect and preserve the association's financial resources, insure the association's assets against loss, and keep the common areas in a state of good repair.

The board members owe a fiduciary duty to the homeowners to manage and operate the association using the care that an ordinarily prudent person would use under the same or similar circumstances (the Business Judgement Rule). This means that the board must exercise business judgment in making decisions while operating or managing the association. Business judgement involves making rational, informed decisions in good faith. The board must strictly follow the law and its governing documents and apply and enforce them in a fair and uniform manner. The board must obtain and consider all of the relevant facts and circumstances, identify the various options available to the board, and carefully weigh which course of action would be in the best interests of the association and its membership as a whole.