The fundamental duty of Directors is to act to promote the success of the Company (not to champion personal causes) as well to ensure compliance with statutory requirements.
For CMMC, the primary duties of the Directors are to make sure that:
- The development remains a pleasant and enjoyable place to live.
- The common areas are maintained and ideally improved over time.
- All residents abide by a code of behaviour that promotes good relationships across the development.
- Service charges are managed to deliver value for money whilst maintaining standards of safety and quality of appearance
- The managing agents deliver agreed levels of service and control expenditures within agreed budgets.
The Directors are given control over the affairs and property of the Company and are responsible for the management of the Company’s business. They have legal authority to exercise any powers of the Company that are necessary to deliver the objectives of the Company.
Unlike the members of CMMC, the Directors can be held personally liable for their decisions and the actions of the Company. The Company maintains Directors and Officers liability insurance in case any legal action is brought in this respect.