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Unpaid Board Members and Reg O

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We have a board member who sits on the board of a condominium association, but does not receive any compensation to do so by the association. Would making a loan to the condominium association be considered a conflict of interest/Reg O violation? We are thinking not since they are serving on the condo association as a resident (condo owner) in the complex.

It is not a matter of a conflict of interest. It is a matter of whether or not the condo assoc. is a related interest. If he sits on the board, I would say that it is.

First published on 03/19/2023

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