Can condo association board give a vendor a five year contract?

Posted on Fri, Aug 24, 2012 @ 08:19 AM

Our board of directors is made up of seven people. Only two people have one more year remaining and the five other positions are open for election next month. The board just gave a $15K raise and a five year contract to the bookkeeper in case the new board decides to terminate her. Is this legal or does it indicate a breech of their fiduciary responsibility to the community.

Tags: Board of Directors