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Insurance & Legal
Insurance Coverage- All risk management issues will be examined to determine adequate coverage's for the association, including Director and Officer insurance
- Exception and exclusions will be identified to the Board to clarify any questions on possible claims
- Costs and deductibles will be compared to similar Associations to ascertain possible savings
Statutory Requirements- State laws and regulations affecting Associations and Board of Directors are monitored
- Changes in legislation impacting the Association's responsibilities and operations are discussed with the Board
- Recommendations for amendments to the Declaration, Bylaws and rules and regulations are presented to the Board when needed
Declaration Issues- Conformity with the Association's Declaration, bylaws rules and regulations requites periodic reviews of policies and procedures of the Association
- Changes and amendments to the formal Association documents entails a formal process of notice, hearings, and professional drafting of provisions
- Ownership concerns on rentals, pets and community conduct may necessitate a Declaration modifications
- Turnover of new construction and Developer issues are resolved
Revisions and Additions- Various formats for changes to Association documents are presented to the Board for their consideration
- Assistance with information dissemination to the owners on proposed changes with the supporting rational
- Participate at special meetings on amendment changes to enhance the Board's ability to obtain approval of desired changes
Delinquency Policies- Formalize collection policies for efficient and legal pursuit of delinquent accounts
- Comply with the Federal Dept Collection Act by the Association and management company
- Follow swift and accurate collection practices to assure financial stability of the association
- Attend court with the Associations attorney for proof of past due amounts and formalization of Lien rights to protect the Associations's legal position
- In rare cases, actual possession of the residential unit is obtained to satisfy a substantially overdue account
Certificates of Insurance- Where required, certificate of insurance are obtained from the owners to verify proper coverage on individual units
- Certificates of insurance are required from all contractors doing work on the Associations's property
- Copies of certificates are maintained and renewed at the management office
Workman's Compensation- No contractor is authorized to work on Association projects without adequate Workman's Compensation insurance as required by law
- Uninsured personnel working on the Association's property will cause indeterminable liability and exposure to the Board
Legal Updates- Report on local, regional, state and national legislation affecting the Association's responsibilities
- Pending and enacted laws, rules and regulations are presented and explained to the Board
- Direct legal presentations by attorneys are arranged for the Board
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