Condo-HOA Blog - Business Judgment Rule
Good News for Good Boards from the Supreme Court of Washington
Late last week, the Washington Supreme court issued a split opinion in Surowiecki v Hat Island that means good news for good boards (and great news for my partner, Jeremy Stilwell, and our client!) In the landmark case, the court adopted a standard by which community association board decisions are judged that should provide good board members with some peace of mind read more
The Business Judgment Rule
Community Association board members frequently ask, "What is the standard we're held to when we vote and make decisions?" The standard of conduct in Oregon and Washington is colloquially known as the "Business Judgment Rule." Application of the Business Judgment Rule comes into play in nearly all board decision making from deciding how far to pursue a collections matter to selecting a contractor for multimillion dollar repairs to raising or lowering monthly assessments. read more