Motivation behind Conflict of Interest

The blog discusses the motivation behind the conflict of interest in condo corporations. It explains that a conflict of interest occurs when a board member or manager makes decisions that may benefit themselves or their business, rather than the condo corporation and its members. The blog provides examples of conflicts of interest, such as awarding contracts to friends or family members and hiring companies that the board members are associated with. It explains that conflicts of interest can lead to mistrust, disputes, and legal issues. The blog encourages condo corporations to establish policies and procedures to identify and address conflicts of interest and to ensure that decisions are made in the best interest of the corporation and its members.