GeorgeM9 (Oregon)
Posts: 1
Posts: 1
Posted:
who is the persons to sign checks for the association
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checks
Started by GeorgeM9 • 4 replies • 1408 views
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JohnM48 (Pennsylvania)
Posts: 89
Posts: 89
Posted:
You should check your organizing docs: CCRs and By-Laws, it is often specified.
In our association is the president & either secretary or treasurer.
In our association is the president & either secretary or treasurer.
Association President
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
It depends on how your HOA is set up. Our HOA we had a bookkeeper and the HOA Board controlled all decisions. A check had to be signed by the bookkeeper and have 2 signatures of approved Board members. Those were typically the President/Vice President positions. We had special (expensive) checks that allowed for the two signatures of the BOD and Bookkeeper on them. The bank also had our signatures on record for access to the HOA's account. Only approved signatures were allowed to sign checks. This included routine checks such as utilities etc...
A management company ran HOA does things differently as does a Developer Controlled one. It's a good idea to have the checks and balances system with the 2 BOD signatures but not necessary. It really depends on how comfortable the HOA is with who controls signing checks. The treasurer may do it or the president. It just really depends on each individual HOA overall and their documentation.
A management company ran HOA does things differently as does a Developer Controlled one. It's a good idea to have the checks and balances system with the 2 BOD signatures but not necessary. It really depends on how comfortable the HOA is with who controls signing checks. The treasurer may do it or the president. It just really depends on each individual HOA overall and their documentation.
Former HOA President
BruceF1 (Connecticut)
Posts: 2,535
Posts: 2,535
Posted:
In our HOA the management company prepared the checks and the treasurer signed them. The president could sign them if the treasurer was not available. The secretary witnessed the signature authority on the bank forms.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
As others have said, it should be noted within your governing documents.
My Association just amended our bylaws to allow any two officers to sign checks (typically officers are also directors for our Association). This eliminated issues caused by vacation and work travel schedules.
Tim
My Association just amended our bylaws to allow any two officers to sign checks (typically officers are also directors for our Association). This eliminated issues caused by vacation and work travel schedules.
Tim
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