NJ A637

Officers, board members, and employees of homeowners' associations (and their immediate family members) are prohibited from having interests in business organizations or engaging in transactions that conflict with their duties to the association

Associations cannot award contracts to officers, board members, their immediate family members, or businesses where they hold more than 5% interest, during their term and for one year after leaving office

Contractors with sponsors holding an interest are disqualified from association contracts until three years after sponsor control ends, and contractors must disclose any association officers or board members they employ

Officers and board members are barred from using their position to secure unwarranted privileges, influence decisions for personal gain, or accept benefits intended to influence their official duties

The Department of Community Affairs is authorized to investigate violations upon unit owner request, with power to order removal of offending board members/officers and void related board actions