HABITAT
Serving on Your Board? The Liability Trap No One Warned You About
Volunteering for your building's board seems like a great way to serve your community—until you realize you might be personally liable for the board's decisions. Often overlooked are indemnification clauses, says Leni Morrison Cummins, Member, Cozen O'Connor. This protection isn’t guaranteed and there are surprising "pitfalls" of indemnification clauses that leave board members vulnerable, particularly in condominiums where protection isn't built into law as it is (partially) for cooperatives. In this interview, conducted by Habitat Magazine’s Carol Ott, Cummins highlights several alarming gaps in typical indemnification language.
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