Multiple Choice
How does the business judgment rule apply to HOA boards?
A) It provides liability protection if the board follows its processes
B) The board members are exempt from liability
C) The board must always have external advisers to protect itself from liability
D) The business judgment rule does not apply to HOA board
Correct Answer:
Verified
Correct Answer:
Verified
Q9: A vacation lease:<br>A) Is a time sharing
Q10: A proprietary lease is used in a
Q11: The laws on multi-unit housing are uniform
Q12: Conversion restrictions:<br>A) Impose minimum notice periods for
Q13: A co-op need not be incorporated.
Q15: Common areas are specified in the Declaration
Q16: The Uniform Common Interest Ownership Act:<br>A) Makes
Q17: Alteration of a property located in an
Q18: A co-op interest cannot be mortgaged or
Q19: Condo and co-op board members have immunity