Can the President also be the Treasurer?

I am in a Condo Association so I am not sure if this is the correct place for me but I have a question can the president also be the treasurer? There is nothing in our by-laws that say yes or no it just describes each position. We have 5 seats and this is what they are now calling themselves when it used to be different for many years.

Old way: President, Vice Pres, Treasurer, Secretary, Director at large

Now they are called: President/Treasurer, Vice President, Secretary, Director, Director.

Thank you Debra

You might also review your FL condo codes, which might tell you something. We also have some savvy FL posters here.

Our bylaws say the prez & sec'y cannot be the same person. Our CA state corporations code say about the same, if I recall right, but defer to the HOA's bylaws.

Debra,

It's going to depend on three things:

1) Do the applicable statutes prohibit it? See FL 718, The FL Condominium Act

2) Do your governing documents prohibit it? Typically this would be within your Bylaws.

3) Realistically, are there enough volunteers? Although applicable law and governing documents should be followed, sometimes (to be realistic), there simply aren't enough volunteers to do the jobs that are required. This may force a Board to do what they can.
It's unfortunate when this happens, but it does happen.

Sometimes the combiations allowed for in the bylaws aren't always followed, often with little to no negative reprecussions. Our bylaws say the president and secretary offices can't be held by the same person. That didn't stop one board member a few years ago (before I moved in) from being both the president and the secretary for a year when nobody else stood up and volunteered to do the secretary's job.

This was a clear violation of our bylaws. Nobody complained so it was allowed to continue for a year. You could argue, "No harm, no foul" I suppose.

One reason, Geno, that the prez & sec'y can't be the same person is because often each officer must sign the minutes.

(sorry about my triple post!)

I used to own a condo here in Florida, we had the same issue because the President wanted full control of the board and the finances.

We had a group of 43 owners out of 189 owners, get together hired a lawyer, asked for and received a court injunction against the board, thru the Courts AFTER the Board (7 members) allowed President to bully them into this position. Most of the Board were snowbirds and really did not want to do anything other than be on the board for their own issues. "Every vote is equal but some votes are more equal than others" (Geo. Orwell book "1984")

In a declaratory judgment by the 7th Circuit Court Volusia County, the court ruled that the position must be held by two different individuals. This judgment was made in 1999 in Deland Florida

If my memory serves me correctly, the judge, stating I believe, FS617 not for profit corporation laws required each position, ie Pres VP, Treasurer and Secretary, to be held by individual persons and that not two or more positions could be held by one individual It was either FS617 or FS 61B administrative laws were quoted by Judge. Our condo documents were silent on this matter, so you may want to review your doc's

Court Case was Riverhouse Condominium Association Inc vs Debra Hallock, Joseph McCabe, et al. heard by Judge Parsons 1999 Circuit Court

I understand some of what you say Geno, however, according to the Judge, If you have 7 board members, or in the case of the questionnaire's board 5, each Board member MUST participate FULLY and not just be a director because they do not want to fully participate.

If you had a board of three, I guess that would be ok, but as I read this question, there are 5 board members<

It's called fulfilling YOUR DUTIES YOU VOLUNTEERED FOR. If you do not want to fully participate then stay off the board.

A lot of "board members" get on to fulfill some sort of personal agenda but want to fall back on "I'm only a volunteer". In Fla, you now have to certified within 90 days of being elected, state YOU HAVE READ AND UNDERSTAND YOU DOCUMENTS and, and, that you understand the Flroida statutes and will FAITHFULL DO YOUR JOB TO THE BEST OF YOUR ABILITIES!

HOA's are a boil on the butt of the corporate world.

Few other corporations require their directors to purchase something as a condition to serving on the board.

Few other corporate models limit serving as officers to board members. In the real corporate world, directors are keenly aware of their own lack of knowledge or interest in operating a corporation on a day-to-day basis and deliberately look outside the board for the corporation's officers.

Think that is the most accurate statement I have seen here in 7 years.

For FL:

Yea...yea...I read it all.

Yea...yea...I understand it all.

Yea...yea...where do I sign.

Done.

Of, course, Raymond. My point is that many HOAs and some states' corporation laws do permit Boards to appoint officers who are non-directors.

Our checks require two signatures, one being the treasurer, the other the President (or Vice President, in Prez's absence).

So, for us, the prez and treasurer cannot be the same person. It's just a preventative measure written into our by-laws.

What, exactly, does this prevent?

Geno,

Larry has brought this up several times in the past.

The point I recall Larry making is that since banks won't verify two signatures and will cash a check with only one signature that such a requirement doesn't prevent anything.

Although that is certainly a valid point, I agree with you. As an internal control it may, repeat may, minimize temptation. It may allow the Board or auditor to catch theft earlier.
It's an internal control for an Association, not an external control.