As a board
member, your fiduciary duty to act prudently and stay informed can
seem much easier said than done. Running an association requires not
only a knowledge of business operations, but also involves decision
making about areas in which you may have little or no experience,
such as construction, reserves, accounting, insurance policies, and
legal issues. We know that preventive measures at the front end can
save the association time and money in the long run. That’s
why we offer our Legal Audit Program. Having an audit performed for
your association will alert the board to potential problems and liabilities-giving
the association an opportunity to correct problems before they become
a full-blown crisis.
How
Can I See the Problem Before it Occurs
No one
person can anticipate the full range of problems that a community
association may face. However, that doesn’t prevent association
managers and directors from facing owner unhappiness – and even
legal liability – if the worst happens. Because association
law is all that we do, we know the warning signs to look for.
Conducting
Legal Audits
We
will:
- Alert the board to
problem areas in the association’s governing documents,
covenants, rules and regulations, design guidelines, and other
procedures.
- Help the board to
prioritize needed changes by examining the liabilities associated
with each matter and the cost and methods available to resolve
them.
- Review the existing
rules and regulations, resolutions, and policies and procedures
for compliance with state and federal law and the association’s
governing documents.
- Provide full association
assessment by reviewing documents, board meeting minutes, correspondence,
contracts, and existing financial safeguards to protect the association’s
funds.
Giving
You Piece of Mind
When
there are no problems threatening your association, it’s tempting
to go along without rocking the boat. But what you don’t know
about your legal position can have tremendous consequences –
both to you as a board member and to the association as a whole.
By learning
about potential legal problems now, the board has the information
necessary to make changes, initiate new policies, and correct problems
– ultimately, saving yourself and your association a great deal
of time, anguish and expense.
Let
us do the worrying about potential problems – so you don’t
need to.
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NORTH|Law