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The Bd President is suing a vendor for money given to them without doing the job. He is suing the Board and individuals who voted to
get the money back. Can he do this?
Thank you for your advice. I appreciate your response.I do have a million dollar coverage, but I understand a person can sue you privately without the Board coverage. I called a RE lawyer yesterday and waiting formhis response.
Hi Gloria,
There happens to be a very good article in this month's Habitat Magazine that is right on point concerning your question.
http://www.habitatmag.com/Publication-Content/2012/2012-October/Featured-Articles/Board-Members-Liable-in-a-Lawsuit#.UGw-3FFP8W8
While the attorney you contacted will be your most authoritative resource, this article will give you a good understanding of the basics of board member liability.
Good luck with your case!
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Hi Gloria,
While I am not a lawyer (I'll defer to them), I believe that anyone can begin to sue anyone. The question is will the courts let the lawsuit continue.
As a Board Member and in conjunction with my homeowner's policy, I carry $1 million personal liability coverage for a nominal annual cost (State Farm). This is just in case some crackpot decided to file a misguided lawsuit.
I would definitely contact your personal insurance agent to see if you have coverage and whether you should file a notice of claim. If you don't have coverage, you may wish to find out how much that coverage might cost in case this happens in the future.
Please also contact the co-op or condo corporation's insurance agent to see if you claim might be covered under that policy too (typically D&O coverage).
Don't wait until the court appearance to contact the insurance agent(s) - communicate as soon as you receive court papers. Sometimes the insurance companies' lawyers can assist in the defense against the claim (this lowers their claim risk).
Good luck!
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