Association President Can’t Disburse Settlement Funds

Facts: A condo association sued to stop the developers from making changes to a governing document that would have altered the rights of the existing members. Before the trial began, a court had granted the association a temporary stop order against the developer as long as the association could post a $300,000 bond. Twenty-two association members agreed to pledge personal assets worth $230,000 to secure the bond. Four years later, the court ruled for the association and ordered the bond to be released.


The resource you requested is available only to current members.  

Please log in or start your membership account.

Member Log In

Trouble Logging In?
Reset your password. Or contact us

Need to Renew Your Membership?
If your membership has expired and you wish to renew, visit the Membership Renewal Page.

Sign up for your free trial membership and access this resource now. 

Community Association Management Insider helps community association managers keep their co-ops, condominiums, and homeowner’s associations running effectively and within budget — and all in the bounds of state, local, and federal law, as well as their governing documents.

Click here for quick FREE trial sign-up.

As a member, you get:

  • Model tools, such as letters to members, bylaws, and contractor agreements
  • Step-by-step management techniques
  • Updates on new laws and court cases that impact you
  • Easy-to-implement solutions to managers' thorniest challenges.

Community Association Management Insider will show you how to:

  • Avoid liability and get indemnity
  • Effectively and economically manage maintenance and repairs
  • Get better deals from contractors
  • Get the right insurance coverage
  • And much, much more

Sign up for your free trial membership and access this resource now »