11/5/2006 3:25:45 PM
Reply
or ReplyNewSubject
Section 5: OPA Board Subject: OC Today Story Msg# 385351
|
||||||
An additional thought. It is not beyond possibility that if Marty is successful and OPA is forced to pay penalties, etc., board members could be personally responsible. The insurance company could decide not to pay, saying there was a known ignoring of fiduciary responsibility by the board. I have no idea what protections there are in place for individual board members but if this thing ends up in court there is no telling what might happen. On the other hand, should the case end up in court and OPA prevails, those taking the court action might well be personally responsible for any losses. Maybe one of the forum legal eagles has some thoughts on these two possibilities my non-legal mind imagines. |
||||||
|
||||||
For reference, the above message is a reply to a message where: Tony, Rick, Joe Let me be kind, Dan appears to have miss spoke. I will apologize for any undue concern that the community has been subject to, by any member of the Board of Director's unsubstantiated comments, regarding a special assessment if the people choose to exercise their right of referendum. There is no special assessment in the works,nor has been for the residents/owners if they choose to go to referendum regarding the community center. I sincerely hope that the residents do not feel intimidated by unauthorized and unverified and incorrect information that they may have received. Regards, Janet
|
Calendar |
OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
3/29/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
4/26/2025 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
5/24/2025 - 9:00 A.M. |