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BOARD OF DIRECTORS SUMMARY OF CODE OF ETHICS The purpose of this Code of Ethics (this "Code") is to ensure that the Board of Directors (the "Board" collectively or individually, each a "Director") of the South Beach Property Owners Association, Inc. ("SBPOA") acts ethically, legally and in the best interest of the organization. The SBPOA has as its mission the promotion of the interests of its members and constituents which the Board believes requires the highest form of ethical conduct by all (Board and Directors) in fact and appearance. The Board has adopted this Code to help Directors recognize and address ethical issues, foster a culture of integrity beyond reproach, accountability and legal compliance and effectively carry out their fiduciary obligations to the SBPOA. This Code establishes standards of conduct that every Director must fully understand and agree to adopt. Each Director is expected to perform his or her duties in good faith, with honesty, integrity, and openness in all dealings as a representative of the SBPOA. The Board owes the organization Duties of Care, Fiduciary and Loyalty. The Duty of Care shall provide that each Director be required to become informed of all business and civic information reasonably available before making a business and or civic decision and refrain from conduct that would injure the organization's constituents and other impacted parties or deprive them of advantage. The Duty of Fiduciary shall provide that each Director conduct him or herself to the highest standards of trust, ethical conduct and transparency towards fellow Directors, SBPOA constituents and other impacted of the South Beach community ensuring the welfare of the principals is elevated above the welfare of the Directors. The Duty of Loyalty shall provide that each Director put the SBPOA's interest ahead of those of the Director's other business, professional, political or personal interests in all matters involving the SBPOA. It is extremely important that the Board exercise great care in dealing with actual or perceived Conflicts of Interest. Directors shall disclose to the Board and avoid participating in decisions regarding situations where their personal, political and professional relationships may create actual or apparent conflicts of interest with the SBPOA. SIGNED BY THE 2016/2017 BOARD OF DIRECTORS