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This makes me chuckle a bit. Please tell me this community is self-managed. If you have a management company and your manager didn't pull that board back, you have a serious problem. I see boards all the time attempting to do things that are illegal (sometimes with all the best intentions) and most times, it's the managers that are there to get them to stop and check with the municipalities, an attorney, or someone before they plant trees on a dam, fill in DOT-mandated swales, cover up BMP ponds, fine homeowners who aren't in compliance, I could go on and on.
Four words for you to check into, my friend: Directors and Officers Insurance. Hope there is a provision to cover you so the homeowners don't lose money over the Board's lack of judgment.
Four words for you to check into, my friend: Directors and Officers Insurance. Hope there is a provision to cover you so the homeowners don't lose money over the Board's lack of judgment.
D&O insurance, as the name implies, covers individuals who serve as directors or officers of a corporation (including a non-profit HOA) against claims brought against them based on their service. It does not provide general liability protection for the corporation/HOA itself - which is where the financial impact of any HOA liability would flow.
Wow! Very interesting chain of events here and some excellent advise from other users. I agree with the attorney recommendations to a tee, as Henry and Hope are THE best! I'm curious as to how everything has panned out since the last post?
D&O insurance, as the name implies, covers individuals who serve as directors or officers of a corporation (including a non-profit HOA) against claims brought against them based on their service. It does not provide general liability protection for the corporation/HOA itself - which is where the financial impact of any HOA liability would flow.
Not exactly true, my friend. If the Board is sued and loses, it's the association that pays. (Well, not if they are covered by D&O insurance). The association is made up of all of the residents, therefore, we see who loses here. (Remember when you're suing your HOA, you're suing yourself and all of your neighbors). The only time what you wrote is correct is if the board members are being sued individually, which is less common.
I'm glad to hear that a resident looking into the issue was able to find out some accurate information from the DOT. I was shocked that an HOA could possibly just slap some speed bumps up without the extensive traffic studies and approvals that are necessary in order to do ANYTHING.
And another agreement that emergency responders loathe speed bumps. They do extensive and expensive damage to vehicles from fire trucks to police cars. It's pretty awful, particularly considering damage to those specialized vehicles is complicated and pricey to fix. They're not generally regarded as the most effective ways to slow people down.
I do like the Beer Can Plan, though! Wonder if the HOA would approve THAT?
Not exactly true, my friend. If the Board is sued and loses, it's the association that pays. (Well, not if they are covered by D&O insurance). The association is made up of all of the residents, therefore, we see who loses here. (Remember when you're suing your HOA, you're suing yourself and all of your neighbors). The only time what you wrote is correct is if the board members are being sued individually, which is less common.
Suing the board members individually and not the HOA is how a homeowner has won a settlement to put vinyl on her house. The HOA didn't have D&O at the time so trust me, they changed their tune as soon as their pockets was getting hit. Needless to say the board voted to get D&O now.
EDIT:
My HOA had to get a certain majority percentage before they installed the speed bumps a few years ago.
Instead of speed bumps, how about traffic circles? You have to slow down to get around them, there isn't wear and tear on the car, and if you plant the middles w/ flowers they are lovely.
My development has exactly that (traffic circle) on city owned/maintained roads. However someone in our HOA still thought we needed to put in speed bumps and even contacted the city to inquire about installing them.
I live on a 1/4 mile no outlet street with a circle and they still want to put in speed bumps.
IMO small HOA's like mine are a bad idea, you can't afford a professional company and the only owners that want to lead the board are power hungry people that have entirely too much time on their hands.
Luckily I think the city will just laugh at them and tell them to stop wasting our time. I know if it comes to a vote where the HOA has to pay it will get squashed.
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