The only way to stop the board before a recall is to file a lawsuit and then seek an injunction. In order to do that, you must first retain an attorney. The attorney would file the suit on behalf of the owners, and must show:
1. an inadequate remedy at law, meaning that compensation would be insufficient;
2. a serious risk of irreparable harm absent injunctive relief;
3. a likelihood that the plaintiff will prevail on the merits of the underlying controversy; and
4. a comparison of the harm to defendant in issuing an injunction versus the harm to plaintiff in withholding it, which on balance favors the plaintiff.
The basis of the lawsuit would be a breach of fiduciary duty
, and so in order to prove number 3, you'd have to provide enough evidence to convince a judge that you'll likely win the lawsuit when the trial actually occurs. Numbers 1, 2 and 4 would likely be easier to prove since the harm is apparent ... once the money is gone, the HOA won't likely be able to get it back.
I hope that helps.