Prohibits conflict of interests by governing board members or management employees of homeowners' associations.

This bill (A637) prohibits homeowners' association board members, officers, and management employees from having financial conflicts of interest that could compromise their duties. It specifically bans them from awarding contracts to themselves, family members, or businesses where they hold more than a 5% stake, and prohibits employment of board members or their families. Associations must disclose any connections between contractors and board members, and the Department of Community Affairs can investigate violations, ordering removal of offending officers or voiding related decisions. The law applies directly to all New Jersey homeowners' associations managing common areas and their governing personnel.