CA4 (Colorado)
Posts: 5
Posts: 5
Posted:
I have noticed that on some posts people say that it's okay for a husband and wife to both be on the board together. But is it legal for the husband to be President (who must co-sign all checks and make decisions on behalf of the board including financial decisions) and the wife to be Treasurer (who must sign all checks and handle the HOA funds). This would give this couple complete control of our HOA funds, with no one supervising where the funds are going unless requested. To me, this is an embezzlement case waiting to happen and a conflict of interest. Our By-Laws state that the Treasurer and President both must sign all checks, that means that if they are husband and wife then all funds associated with our HOA is all in ONE household’s hands.
Also the wife was not a current board member and was not voted by our members to be a board member, we had someone step down as Treasurer and she was automatically given the position without a vote by the members or voted in as a board member. Can the board of Directors do this? I know the members that know about this are not happy that she was just put in without a membership vote and now all the powers are given to her and her husband. For what my understanding is and what I read in our bylaws is that the board members are voted in by the members and the officers are voted in by the board of directors. But aren't the Officers board members?
Thanks in advance for any input and suggestions.
Also the wife was not a current board member and was not voted by our members to be a board member, we had someone step down as Treasurer and she was automatically given the position without a vote by the members or voted in as a board member. Can the board of Directors do this? I know the members that know about this are not happy that she was just put in without a membership vote and now all the powers are given to her and her husband. For what my understanding is and what I read in our bylaws is that the board members are voted in by the members and the officers are voted in by the board of directors. But aren't the Officers board members?
Thanks in advance for any input and suggestions.