12-22-2014, 01:19 PM
quote:
Originally posted by hppwatchdog
Frank, I wish I could help! I was told to my face by the President that," I am the President and I can do what ever I want". I have a witness to this remark and it is not hearsay.
A group of directors DON'T care about the bylaws and owners and they are on a mission to destroy our association.
You will soon see that the actions that they took with the fired employees is going to bite them right in their A$$, they still think that their actions are covered by the D&O insurance policy which they have not read. If you break a civil law (like an HRS)the insurance underwriter will cut their losses and drop the Association and them like a hot rock.
Furthermore, if the underwriter assumes that they did wrong they don't have to defend the Association or any director. Remember, the complaint by the fired employees is suing the Association and each named codefendant.......you know what that means. Each director will be liable for any court fees and awards against them without insurance.
This is standard language in all such policies. How can an insurance company pay someone to break a law?
Good luck with that.
bold by me...wishing is not a solution...carry on...