Board Of Directors
They note that the affiliation’s creator, e.g. a developer, has an incentive to set up a authorities structured in such a way as to maximise income and thus increase the selling price of the property. If a sure choice would increase the promoting worth of certain parcels and decrease the promoting value of others, the developer will choose the option that yields his project the very best internet earnings.
Embezzlement from associations has occurred occasionally, on account of dishonest board members or neighborhood managers, with losses as much as hundreds of thousands of dollars. Again, California’s Davis-Stirling Act, which was designed to protect homeowners, requires that boards carry applicable liability insurance to indemnify the affiliation from any wrongdoing. The massive budgets and experience required to run such teams are a part of the arguments behind mandating manager certification . In The Voluntary City, revealed by the libertarian … Read More