…Without a properly functioning board of directors, a corporation cannot legally conduct its business. When an association’s business activities cease, there are resulting consequences including, but not limited to, such things as: homeowners stop paying their dues; the lapsing of insurance and necessary services; cessation of maintenance of common areas; no enforcement of governing documents; and loss of legal status and the ability to prosecute and defend lawsuits. Such consequences can ultimately lead to a collapse of the homeowners association and potential personal liability on the part of the last directors and individual owners….
posted 849pm 4 19 17
more at https://www.hoamemberservices.com/newarticle_directors/?mc_cid=cbee7a3dbd&mc_eid=3febc8d842 https://www.hoamemberservices.com/newarticle_directors/?mc_cid=cbee7a3dbd&mc_eid=3febc8d842