A motion that follows a set format and is formally adopted.
What is a resolution?
100
5 business days
When are minutes due after a meeting?
100
Sets terms of relationship between the association and the management company.
What is the Management Contract or Agreement?
200
These are the three basic methods of accounting.
What are cash, accrual and modified accrual?
200
The Board has a duty to the Association.
What is fiduciary duty?
200
The four sections of a resolution.
What is Authority, Purpose, Scope and Intent and Specifications?
200
Provide support, give advice, time keeping, offer alternative options, alert the board to actions that are in conflict with their documents.
What is the role of a Community Association Manager during a board meeting?
200
Defines the rights and obligations of associations and their members.
What are state statutes, governing documents and case law?
300
The three major components of a balance sheet.
What are Assets, Liabilities and Members Equity?
300
An appointed committee to discuss a one time issue.
What is and ad-hoc committee?
300
A local agency that can assist with enforcement of some rules.
What is the Local Zoning Department? Or codes?
300
These are items that are included in minutes.
What is start time, end time, persons in attendance, prior minutes approval, financials approval, old business, new business and any actions or decisions made?
300
A situation in which one individual's duty to one leads to a disregard of another duty.
What is a conflict of interest?
400
The financial planning document prepared annually.
What is a budget?
400
A yearly cycle of tasks that the manager should perform on behalf of the community association.
What is a management plan?
400
The Community Association takes action to correct a violation.
What is Self Help? [Must have the rights in the Community Associations documents]
400
A set of rules for conduct at meetings.
What is Parliamentary Procedure? Or Roberts Rules of Order?
400
A written authorization of a member to allow another to vote on their behalf.
What is a proxy?
500
All line items must be justified.
What is zero based budgeting?
500
Many courts apply this to the to a Board's decision.
What is the business judgement rule?
500
The seven steps for a valid and enforceable rule.
What are; 1. Not violate a fundamental constitutional right. 2. consistent with applicable federal, state and local laws. 3. reasonably relate to the community associations operation. 4. a rule must be reasonable not excessive, 5. The rule must be fair 6. Capable of uniform enforcement and 7. must be uniformly enforced. ?
500
A proposal that the board take a stand or take action on some issue.
What is a Motion?
500
Negligence is the most common claim under this liability for a Board of Directors.