We have another annual meeting this fall. It appears that some of the prior board members are going to run again despite their previous failure to uphold their fiduciary duty. Can they be held accountable?
—Up in Arms
“As they are apparently running for office, they can be vigorously opposed and hopefully defeated in the upcoming election. Additionally, there may be something in the condominium documents of this community that may bar them from running under the circumstances.
“Of course, another form of response to [the board] can be a lawsuit against them for failing to properly discharge their fiduciary duties, brought by any unit owner and/or the association itself. The damages sought would be the amount owed by the delinquent unit owner. Interestingly, the association’s insurance carrier might respond to such a suit on behalf the of the defendant directors under the association’s liability policy and/or Director’s and Officer’s policy, assuming the latter is in place.”