What is the Business Judgment Rule?

This rule has been codified in Florida Statute §607.0830 and provides that an association Board must make decisions in good faith; with the care of an and in a manner that the Board reasonably believes to be in the best interest of the corporation. The reasonable and prudent person acts sensibly, does things without serious delay and takes proper precautions. The reasonable and prudent person conforms to the standards of behavior and responsibility among ordinary people in our society at the present time, he seldom allows his emotion to overbear his reason and his habits are moderate and equable.