Bonding Treasurer

Started by Be-beH • 2 replies • 1569 views

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Be-beH (Florida)
Posts: 4

Posted:

Does the Treasurer of a Homeowners Association need to be bonded?

JohnM3 (Florida)
Posts: 288

Posted:

They are automatically bonded under the Directors Insurance Policy. Otherwise not required as they never physically touch cash. In a HOA that collects its own dues only accept checks never ever accept cash. Case closed

RogerB (Colorado)
Posts: 5,067

Posted:

No Be-be they don't have to be bonded. Most are not bonded but are covered under fidelity insurance which most people refer to as being "bonded".

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