Board of Directors
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The Mill Creek of Shelby Board of Directors consists of five (5) volunteer co-owners, elected by other co-owners at the Annual General Meetings. Each Director is elected for a two-year time period. Board members are not reimbursed, nor do they receive any perks, for their services.
Volunteer Board members are expected to put the overall good of the community above their own interests - they have agreed to be fiduciaries* on behalf of all co-owners. It's not about what's best for the Board members as unit owners, it's about what's best for the association as a whole. Although the terms "fiduciary duty" may sound vague, it is not difficult to apply in the day-to-day operation of the association. Board members can easily fulfill their fiduciary duties by executing their responsibilities in good faith, and by always putting the association's interest above their own.
Being elected to the Board of Directors comes with a great deal of power, and with that - a great deal of responsibility. The Board of Directors is given the responsibility of governing the affairs of the condominium, and the actions of the residents as they affect other residents. The Board also enforces general rules and regulations. In short, the Board is being entrusted with making decisions that benefit the majority of co-owners and not just the few.
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"The Board of Directors shall have the powers and duties necessary for the administration of the affairs of the association and may do all acts and things as are not prohibited by the condominium documents or required thereby to be exercised and done by the co-owners."
(Mill Creek of Shelby Bylaws, Art. X, Sect. 3)
Above all, Board members should be familiar with the boundaries of their powers, at the very least by reading, and understanding, pertinent documents (Master Deed, Bylaws, and amendments). By understanding the governing documents, the Board should know exactly what they legally can and cannot do in their roles, as these are spelled out in those documents. When in doubt, the Board can consult with the association attorney.
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* The simplest definition of "fiduciary" is "one who holds property for another"
