Page 8 - Boca ViewPointe - May '23

Page 8, Viewpointe May 2023
Your Fiduciary Duty

By Peter Sachs, Founding Partner, Sachs Sax Caplan P.L. association officers, directors, and even committee process. This means attending meetings, asking questions,
members from actions that amount to honest mistakes and voicing your concerns when necessary. You must
Robert Kennedy once said, “It is the essence of or errors in judgment, as long as the officer, director, or also be willing to work collaboratively with other board
responsibility to put the public good ahead of personal committee member does not commit an act of self-dealing, members and members of the association to make
gain.” For Florida condominium and homeowners’ take action with a reckless disregard for the interests decisions that are in the best interests of all involved.
association officers and directors, this fiduciary of others, or commit a criminal act. The long-standing In conclusion, as a Florida community association
responsibility to the members of your association is no “Business Judgment Rule” further ensures that courts will officer and/or director, your fiduciary duty to the members
different. You are not simply a figurehead! Rather, you not overturn decisions made by a board, as long as those of the association is of utmost importance. You must
are a leader, entrusted with the task of acting in the best decisions follow the association’s governing documents, exercise loyalty, good faith, and due care in carrying out
interests of the association and its members. This means the law, and the advice of competent professionals. your responsibilities, and be diligent in your oversight of the
that you must exercise the utmost loyalty, good faith, and To ensure that you are meeting your fiduciary duty as association’s finances. By staying informed and engaged,
due care in carrying out your responsibilities. a Florida condominium or HOA director, it is important you can help ensure that your association is being run
Loyalty means that you must put the interests of the to stay informed and engaged in the decision-making properly and in the best interests of all its members. 
association and its members before your own personal
interests. This can be a difficult task, especially if you have
However, you must always remember that your primary Community Association Meetings Monthly Schedule
close relationships with certain members, vendors or suppliers.
responsibility is to the association, and that any conflicts of (All meetings held via Zoom and in person.)
interest must be disclosed and dealt with appropriately.
Good faith means that you must act honestly and with
integrity at all times. This includes making decisions
based on what you believe is best for the association, All meetings will be held electronically via Zoom and in person. The following is our regular schedule of
rather than your own personal gain. You must also keep monthly meetings, however, sometimes meetings are cancelled or schedules are revised due to holidays, etc. If
the interests of all members in mind, not just a select you would like to attend, please call the BPCA office, (561) 395-7551, the day before the meeting to request the
few. This can be challenging when you are faced with Zoom link be emailed to you.
competing demands or limited resources. However, you
must always strive to make decisions that are fair and Access Control & Safety Committee 2nd Thursday of each month at 9:30 a.m.
reasonable, and that reflect the values and goals of the
community at large. Architectural Control Site Committee 1st Friday of each month at 9:30 a.m.
Due care means that you must exercise reasonable
care and diligence in carrying out your responsibilities. Board of Directors 3rd Tuesday of each month at 9:30 a.m.
This includes being informed about the issues facing the
association, and seeking out expert advice when necessary. Budget & Finance Committee The Friday before the third Tuesday of
You must also be familiar with your association’s governing each month at 9:15 a.m.
documents, rules and regulations, and applicable laws
(Chapter 718, Chapter 720), in order to ensure that you are
acting in accordance with their requirements.
One of the most important aspects of your fiduciary duty B’H
as an officer and/or director of a community association Sabra Wall Decor
is to maintain the financial health of the association.
This means that you must ensure that the association
is operating within its budget, and that all expenses are EstimatEs
being accounted for. You must also be transparent with
the members of the association by providing regular
financial reports and keeping accurate records. This may Painting & More ...
be challenging, especially if you don’t have a background
in finance or accounting. Thus, it is most important to
seek out the advice of competent professionals, such as • Popcorn Ceiling • Wallpaper Removal
accountants, attorneys and managers.
Mistakes in judgement and errors in application are • Knock Down
normal. They are just a part of the human experience, and • Drywall Repair
nobody is perfect all of the time. That is why it is important
to ensure that your association maintains officers and Cell: (954) 931-4716 Licensed & Insured
directors insurance (also known as “errors and omissions” Office: (561) 395-3057 CC: 03-11120-P-K
insurance). This insurance protects board members
from simple negligence and, well, honest mistakes. The
law is designed to do the same, and generally protects
Are You Freaking Out About Your
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Street, between Powerline Road and Military Trail. the ones you don't know to ask)
We meet the second and fourth Thursday each
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Harvey Golinger at (561) 752-4922.  You don't have to face these obstacles alone...... I have
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By Lisa Cammaleri TERM CARE, REAL ESTATE, SENIOR HOUSING, GOV'T
BENEFITS, & LEGAL CONSIDERATIONS.
Do you have an interesting story to share? Paul Solomon, PA, GRI, SRES, CSA
The Viewpointe is always looking for new and talented
writers to submit articles on current events, the social scene,
restaurants, movies, family matters, village life, etc… COMPLIMENTARY
We welcome news from Village Boards about activities 30 minute
or events in their community, which would be of interest consultation
to Boca Pointe residents.
Please submit your article to lisa.cammaleri@
fsresidential.com for review and consideration. 
www.LUHUADVISORS.com
954-540-6609