Treasurer?

Started by BW • 3 replies • 1102 views

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BW (Colorado)
Posts: 28

Posted:

We are rewriting our small HOA's Bylaws. Because we are small (8 members) our current Bylaws state that there shall be 3 members elected to the BOD, one each year for a 3 year term. During the initial BOD meeting following the homeowners annual meeting, the 3 members of the board will appoint a President, VP and a Secretary. Those 3 officers will then appoint a Treasurer for a 1 year term to sit on the board but have no vote.
Can the elected members of the BOD, now the officers of the Association then appoint the Treasurer or does the Treasurer have to be elected to the BOD by the association members? I'm not sure that we can find 4 willing members. Thank you for all your thoughts.

RogerB (Colorado)
Posts: 5,067

Posted:

BW, a Board member can be the Treasurer. When your By-laws allow it someowne else can be appointed by the BOD to either be Treasurer or perform certain duties for the Treasurer.

BW (Colorado)
Posts: 28

Posted:

Thank you for information. Let me know if I understand you correctly--our HOA has 3 elected directors who then meet & appoint a Pres, VP & Sec between themselves. These 3, who are now the HOA officers can appoint another member of the association to be the Treasurer--this Treasurer is not elected by the members but is appointed by the BOD. Is this right?

RogerB (Colorado)
Posts: 5,067

Posted:

BW, that is correct. Also, one of the three Board members can be Treasurer. Often with three Board members there is often a Secretary/Treasurer; or a less often a VP/Treasurer depending on what the By-laws require.

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