Liability of board members of residential group

Questioner

We are the board of a residential group. The residential group is an association. The members of the residential group want to invest, but the names of the board including BSN must be filled in, because they are registered as authorized representatives in the Chamber of Commerce. What are the consequences for the board if the investments do not turn out favourably and problems arise? Can the board members be held personally responsible for this? The same applies if the residential group falls apart.

Lawyer

If you are a notarially established association, the board is not liable if it fulfills its task properly. You can also start by checking whether the association's articles of association have been notarially passed.

Lawyer

Do you pay attention to the statutory objective of the residential group association? I would be surprised if investing alone is part of the objective. Actions of the board that are contrary to the articles of association are null and void / voidable and will generally also lead to liability of the board and the directors.