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Q.What happens if the entire Board resigns and noone else is willing to serve?
A.If the entire Board resigns and noone steps up to the plate, serious problems can result, even if the HOA has a management company. The management company has no authority to act without Board approval, and faces potential liability itself if it acts without the approval of the Board. With a functioning Board, the HOA comes to a hault and no further business can be conducted. For simplicity dake, bills cannot be paid, repairs cannot be made, lawsuits cannot be responded to, and rules cannot be enforced.
An attorney should immediately be consulted as resignations by all of the board of directors without the appointment of replacements may constitute a breach of the resigning directors’ fiduciary duties.
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