Director Liability & D&O, Plain English

What this is

Volunteering for a condo board is an act of service, and many new directors quietly worry about what they are personally on the hook for. The reassuring news is that directors who act honestly, in good faith, and in the corporation's interest are generally well protected. This guide explains the basics of that protection, and where the real risks actually lie, without the legal fog.

It covers the duty directors owe, the situations that tend to create exposure, and how directors' and officers' (D&O) insurance is designed to back you up. Understanding this early makes you a more confident director and, often, a more careful one, which is exactly the point.

What's inside

• The core duties a director owes the corporation, in plain terms
• Where liability risk tends to concentrate, and how to avoid it
• What D&O insurance typically covers and its limits
• Simple habits that keep directors on solid ground

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