Maverick Condominium Association Inc. oversees the property maintenance, upkeep, insurance matters, and financial stability of the Maverick Resort in Ormond Beach, Florida. Our President, Vice President, Secretary, Treasurer, and other Board Members take great pride in ensuring the Maverick surpasses expectations of guests and owners. We encourage you to consider joining the Board when a vacancy becomes available. Offer your name for consideration for serving by completing this volunteer form or call the Maverick during the day to request the form.
Florida Statute 720.3033 Officers and Directors.
- (1)(a) Within 90 days after being elected or appointed to the board, each director shall certify in writing to the secretary of the association that he or she has read the association’s declaration of covenants, articles of incorporation, bylaws, and current written rules and policies; that he or she will work to uphold such documents and policies to the best of his or her ability; and that he or she will faithfully discharge his or her fiduciary responsibility to the association’s members
- (b) The written certification or educational certificate is valid for the uninterrupted tenure of the director on the board.
- (c) The association shall retain each director’s written certification or educational certificate for inspection by the members for 5 years after the director’s election
- (2) If the association enters into a contract or other transaction with any of its directors or a corporation, firm, or other entity in which an association director is also a director or officer or is financially interested, the board must:
- (a) Comply with the requirements of s. 617.0832.
- (b) Enter the disclosures required by s. 617.0832 into the written minutes of the meeting.
- (c) Approve the contract or other transaction by an affirmative vote of two-thirds of the directors present.
- (d) At the next regular or special meeting of the members, disclose the existence of the contract or other transaction to the members
- (3) An officer, director, or manager may not solicit, offer to accept, or accept any good or service of value for which consideration has not been provided for his or her benefit or for the benefit of a member of his or her immediate family from any person providing or proposing to provide goods or services to the association. If the board finds that an officer or director has violated this subsection, the board shall immediately remove the officer or director from office.
- (4) A director or officer charged by information or indictment with a felony theft or embezzlement offense involving the association’s funds or property is removed from office.
- (5) The association shall maintain insurance or a fidelity bond for all persons who control or disburse funds of the association.
The standards are met by following a standard of conduct in arriving at a decision. Known as the good business judgment rule, it requires the exercise of common sense.
The board of directors are complying with the obligations, duties, responsibilities and liabilities of operating and governing the association, and must maintain information of a confidential nature. Recognizing and preserving the confidences of an association is challenging, complicated by the governmental role of taxation (assessments) and punishment (fines; suspension of use privileges and voting), as well as providing services (maintenance of units/common property), which are not addressed by directors of other non-profit corporations. Add to that many members’ beliefs that they are entitled to know everything that is going on and to review all of their association’s books and records.
Decisions must be educated ones. That requires board members to exercise due diligence – meaning to act like the average person possessing the same information when the decision was made.
Florida Law protects directors from personal liability for the result of a decision.