March 2026 CT

LEGAL OBLIGATIONS... from page 29.

The Fiduciary Duty requires the fol lowing as it relates to maintenance: 1. Boards must act in the best interests of the association as a whole; 2. Boards must follow applicable laws and governing documents; 3. Boards must act in good faith; 4. Boards may not act for personal gain. Often, a board member’s individual desires, emotions and personal finan cial resources, are at odds with their

“Often, a board member’s individual desires, emotions and personal financial resources, are at odds with their role as a fiduciary to the association.”

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role as a fiduciary to the association. Take, for example, a board member who is out of a job and having a hard time making ends meet. If the board he or she sits on is facing rising maintenance costs that exceed prior budgets, and there is a need to increase the budget by raising dues or even imposing a special assessment, the board member might be inclined to not agree to an increase in light of personal barriers. However, if that board member knows that approving a maintenance budget is necessary

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CAI-NJ advises that for training, marketing or other pur poses, all events may be recorded, videotaped and/or pho tographed. By attending a CAI-NJ event, the registrant(s) consents to the use of his/her image by CAI-NJ and agrees to waive any claim for the use of his/her image, including without limitation, the appropriation of his/her image for commercial purposes or the invasion of his or her privacy.

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MARCH 2026