There have been allegations made that one or more members of the Board stand to gain financially if the CVS deal
goes through. There have also been statements made by at least one Board member that justifications exist to keep
facts secret from the Board. I believe both positions to be completely false.
I have spent a considerable period of time refreshing my knowledge of fiduciary law since returning to St. Pete onMay 24th. The law library at Stetson is quite impressive. Although I am licensed in a different state as well as various Federal Courts, including the U. S. Supreme Court, I am not licensed in Florida. Therefore my research is intended solely to provide me with a standard of conduct I believe represents my legal obligations under the law. It is not my intent to advise others.
Board Membership is a matter of public trust. As a Board member I act in a fiduciary capacity. My position imposes
on me duties of absolute loyalty and absolute fairness to the organization and its members. With a homeowners
associations I have the additional legal duty to treat all members equally. I can not use my position to favor one neighbor at the expense of another. There are no hard and fast rules, but I believe certain behaviors are clearly prohibited.
I must promptly disclose any information which comes to me as a result of my position to the rest of the Board. If Iam asked to keep a secret I have the obligation to stop communication on the subject until such time as theinformation can be shared with the Board. I cannot absolve myself of this responsibility by clueing a fellow Boardmember in on the side.
If information which may effect the neighborhood or the Board comes to me as the result of either my profession or
simply friendship, I have the duty to clearly explain to all involved that I am acting in my individual capacity, not as aBoard member. Should any issue remotely connected with this information come before the Board, I must fully disclose the nature of my relationship with the parties and all knowledge of the issue that I may have as a result of theprofessional relationship or friendship. The fact that I do not stand to gain financially from a transaction does not absolve me of this legal obligation.
The reason is simple. We are talking about a public trust. The Board has the legal obligation to act in the best
interests of the membership. No one individual can determine the best interest. Only a fully informed board can do so. Bias or potential bias on the part of a Board member interferes with this process. If fully disclosed, the other Board members can take this into consideration in reaching their decisions. If not, then critical information has been deliberately withheld from the Board. All actions taken without this bias being are suspect and vulnerable to challenge.
Beach of theses duties would expose me to personal liability to those adversely affected by the Board?’s actions. I would also have compromised the legitimacy of the Board in the eyes of the membership. This is the standard of conduct I believe is expected of me.
By Greg Burton
goes through. There have also been statements made by at least one Board member that justifications exist to keep
facts secret from the Board. I believe both positions to be completely false.
I have spent a considerable period of time refreshing my knowledge of fiduciary law since returning to St. Pete onMay 24th. The law library at Stetson is quite impressive. Although I am licensed in a different state as well as various Federal Courts, including the U. S. Supreme Court, I am not licensed in Florida. Therefore my research is intended solely to provide me with a standard of conduct I believe represents my legal obligations under the law. It is not my intent to advise others.
Board Membership is a matter of public trust. As a Board member I act in a fiduciary capacity. My position imposes
on me duties of absolute loyalty and absolute fairness to the organization and its members. With a homeowners
associations I have the additional legal duty to treat all members equally. I can not use my position to favor one neighbor at the expense of another. There are no hard and fast rules, but I believe certain behaviors are clearly prohibited.
I must promptly disclose any information which comes to me as a result of my position to the rest of the Board. If Iam asked to keep a secret I have the obligation to stop communication on the subject until such time as theinformation can be shared with the Board. I cannot absolve myself of this responsibility by clueing a fellow Boardmember in on the side.
If information which may effect the neighborhood or the Board comes to me as the result of either my profession or
simply friendship, I have the duty to clearly explain to all involved that I am acting in my individual capacity, not as aBoard member. Should any issue remotely connected with this information come before the Board, I must fully disclose the nature of my relationship with the parties and all knowledge of the issue that I may have as a result of theprofessional relationship or friendship. The fact that I do not stand to gain financially from a transaction does not absolve me of this legal obligation.
The reason is simple. We are talking about a public trust. The Board has the legal obligation to act in the best
interests of the membership. No one individual can determine the best interest. Only a fully informed board can do so. Bias or potential bias on the part of a Board member interferes with this process. If fully disclosed, the other Board members can take this into consideration in reaching their decisions. If not, then critical information has been deliberately withheld from the Board. All actions taken without this bias being are suspect and vulnerable to challenge.
Beach of theses duties would expose me to personal liability to those adversely affected by the Board?’s actions. I would also have compromised the legitimacy of the Board in the eyes of the membership. This is the standard of conduct I believe is expected of me.
By Greg Burton
