Director conflict-of-interest disclosure
Directors and officers must disclose to the association any activity that may reasonably be construed to be a conflict of interest. Certain contracts or transactions between the association and a director, or an entity in which a director has an interest, are subject to statutory disclosure and approval conditions.
What to keep on file
- Written conflict-of-interest disclosures
- Board minutes reflecting disclosure and any recusal
- Contracts with interested directors and their approval records
The exact date depends on your association's facts, such as your building age, unit count, and board dates. Run the free assessment to see when this is due for your board, with the proof to keep.
When to bring in a professional
Ask your association attorney: A proposed contract involves a director; what must be disclosed and what approval conditions apply before the board acts?
General information, not legal advice. Confirm with association counsel.
Common questions
Who does the conflict-of-interest disclosure requirement apply to?
Directors disclose activities that may be a conflict of interest. Directors and officers must disclose to the association any activity that may reasonably be construed to be a conflict of interest.
When is the conflict-of-interest disclosure due?
The exact date depends on your association's facts, such as your building's age, unit count, and key board dates. Run the free assessment to see the exact date for your board, with the proof to keep.
What should our board keep on file for the conflict-of-interest disclosure?
Keep Written conflict-of-interest disclosures, Board minutes reflecting disclosure and any recusal, and Contracts with interested directors and their approval records. HOACompliant stores each in one binder, ready for a records request or a fine hearing.
Which Florida statute governs the conflict-of-interest disclosure?
Fla. Stat. 720.3033(2). This one is awaiting final verification against the primary statute, so we show it without an unqualified deadline until we confirm it.
Should our board involve a professional?
Ask your association attorney: A proposed contract involves a director; what must be disclosed and what approval conditions apply before the board acts?
Does HOACompliant file this or confirm our board is compliant?
No. HOACompliant is record-keeping: it tracks what is due, when, and the proof to keep, each obligation cited to the governing Florida statute. It never files anything on a board's behalf, never states that a board is or is not compliant, and is not legal advice.
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