Director Liable to Association For Breach of Fiduciary Duty
Director-manager charged unauthorized fees, used funds for personal benefit, falsified records
A member of the board of directors of a nonprofit condominium association who also managed the association has been found liable for breach of duty to the association and ordered to pay damages and the association’s attorney fees. An appellate court has affirmed a trial court decision it said was supported by competent, credible evidence. (Mauger v. Inner Circle Condominium Owners Association, Ct. of App., OH, No. 10CA0046, 3/31/11.)
The full text of this article is available to paid subscribers only. Login or subscribe to read more