Conflict of interest in a condo association


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Connecticut adopted a law placing expectations and restrictions on executive board members of condo associations. The law makes it illegal for an executive board member or an individual seeking election to such a board from accepting any item of value in exchange for good favor. Many condo associations are structured as non-stock corporations. As an officer, board members are obliged to discharge their duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and to do so in a manner in which s/he believes to be in the best interests of the association.

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