TomM4 (Florida)
Posts: 2
Posts: 2
Posted:
May a President of a condominium association also hold the office of treasurer at the same time per florida statute 718
thanks
tom mc
thanks
tom mc
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Board of Directors
Started by TomM4 • 2 replies • 1083 views
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RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Tom,
I'm not sure. How many members on Board? Is this addressed in any of your documents? I understand Florida statute 720 is more recent.
A better question might be; why is your President serving as treasuer? President and all officers of the Board are elected by Board Members. Ask them why they elected him. "Because he wants to be," is not enough.
Even with 3 man Board, this is no reason for Board to elect him to both Offices. Usually if a dual position is elected, it is treasurer and secretary, again by election, not appointment.
Condo management needs to be constantly monitored by the owners (council). You can't monitor if you don't know the rules.
For the Board to hold a meeting and just appoint members to offices is not good business. You need a vote and you need it recorded.
I'm not sure. How many members on Board? Is this addressed in any of your documents? I understand Florida statute 720 is more recent.
A better question might be; why is your President serving as treasuer? President and all officers of the Board are elected by Board Members. Ask them why they elected him. "Because he wants to be," is not enough.
Even with 3 man Board, this is no reason for Board to elect him to both Offices. Usually if a dual position is elected, it is treasurer and secretary, again by election, not appointment.
Condo management needs to be constantly monitored by the owners (council). You can't monitor if you don't know the rules.
For the Board to hold a meeting and just appoint members to offices is not good business. You need a vote and you need it recorded.
DonnaS (Tennessee)
Posts: 5,671
Posts: 5,671
Posted:
Tom, How many Officers are you required to have according to your documents? This is the most important thing going on in your situation.
Florida Statute 718; 1124--"Failure to Fill Vacancies" is where you need to look. Your Board is required to maintain a quorum for meetings and voting. With one (1) gentleman doing dual jobs, do you have the required quorum? He sure has alot of responsibility for one guy and I want to know, is everyone watching over the finances? Too much power for a single person if you ask me.
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