What should you do ? Especially in the state of California , no association is safe from the damage that could potentially be caused by a major , or even midsized earthquake . Earthquake insurance is very complex . In making a determination on whether or not to continue earthquake insurance , the board should make sure that it understands what the membership wants , but also ensure that the membership completely understands the consequences , both positive and negative , of having or not having earthquake insurance . So , before making a decision , it is encouraged that the board involve its legal counsel and / or insurance agent and either hold a membership vote or send out a well-drafted , informative survey to better understand what is important to the membership .
This not only helps members feel comfortable , heard and taken care of , but also aids the board in many ways . Almost every board member has experienced an election or vote in which quorum was not achieved after attempting multiple times . When the membership is not used to feeling heard , many individuals see no point in participating and voter apathy results . This can lead to confusion about who should serve on the board and for how long , and many other problems affecting action that is important to be taken but cannot be taken without membership involvement . The notion of
Carlotta A . Kirby , Esq . is an Associate Attorney of Berding & Weil , LLP , with offices in Walnut Creek , San Diego and Costa Mesa .
achieving the best interests of the association is not limited to the board ; this notion should be encouraged throughout the membership by providing positive , engaging opportunities for participation .
Put simply , the board ’ s actions should reflect the following message : help us , so we can help you .
BOARD AND MEMBERSHIP COOPERATION
Membership input and surveys are not only important when a board is making major decisions such as reopening pools and gyms or discontinuing earthquake insurance ; membership participation should be encouraged actively and consistently by the board . Knowing what is important to your community , listening to and acting on the same helps encourage trust , commitment and interest in the happenings and decisions affecting an association .
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Premium reserve products are for new money only ( money not currently held by CIT Bank , N . A .) Funds in excess of FDIC insurance coverage limits are covered by a third-party issued surety bond . Such excess funds are not subject to FDIC deposit insurance . The surety bond providing excess coverage over FDIC insurance may be cancelled at any time upon 30 days ’ written notice . Should a notice of cancellation be given , CIT will contact the client to discuss alternatives to provide for the continued safety of funds . May not be available in every state . © 2020 CIT Group Inc . All rights reserved . CIT and the CIT logo are registered trademarks of CIT Group Inc . Deposit and loan products are offered through CIT Bank , N . A ., the FDIC-insured national bank subsidiary of CIT Group Inc . MM # 7880
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