CarolG (Alabama)
Posts: 11
Posts: 11
Posted:
We are self managed. 96 units with on site pm. We have a Board with five officers, can there be two treasures?
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two treasures
Started by CarolG • 6 replies • 1337 views
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RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Try again Carol and post as if you were going to answer the question.
SusanW1 (Michigan)
Posts: 5,202
Posts: 5,202
Posted:
I am assuming your question is: Can there be two treasurers?
Probably not, unless your documents allow or the board approves. ONE person has to be responsible for reporting to the board and signing all necessary documents.
There can be a recording secretary and a correspondence secretary.
There could also be a financial recorder or assistant to the treasurer. Remember, the treasurer does not have to do all the work, only make sure that it gets done. The important thing is that the JOB is accurate and the board gets its reports.
Probably not, unless your documents allow or the board approves. ONE person has to be responsible for reporting to the board and signing all necessary documents.
There can be a recording secretary and a correspondence secretary.
There could also be a financial recorder or assistant to the treasurer. Remember, the treasurer does not have to do all the work, only make sure that it gets done. The important thing is that the JOB is accurate and the board gets its reports.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Carol,
I doubt your bylaws call for two treasurers. But, why would you want 2; what would the second one do? I've heard of more than one V.P. and a recording secretary and a corresponding secretary but never two treasurers. Usually a 5-member board means one member is a director only and the other 4 also hold officer positions. Also, being self managed with an on site PM doesn't make any sense. Please explain. Thx!
I doubt your bylaws call for two treasurers. But, why would you want 2; what would the second one do? I've heard of more than one V.P. and a recording secretary and a corresponding secretary but never two treasurers. Usually a 5-member board means one member is a director only and the other 4 also hold officer positions. Also, being self managed with an on site PM doesn't make any sense. Please explain. Thx!
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Quote:
Posted By CarolG on 07/11/2009 11:43 PM
We are self managed. 96 units with on site pm. We have a Board with five officers, can there be two treasures?
We are self managed. 96 units with on site pm. We have a Board with five officers, can there be two treasures?
Usually the Bylaws allow for one treasurer and sometime they allow for an assistant treasurer. When there is not a management company handling the collection of assessments and doing the accounting the treasurer encounters the most work of any Board member. Therefore, it that case it would make sense to have an assistant. Why do you ask?
MicheleD (Kentucky)
Posts: 4,491
Posts: 4,491
Posted:
I think you are falling victim to a common misunderstanding.
My guess is that you have 5 DIRECTORS.
Of those DIRECTORS, at least FOUR (4) will also hold OFFICER positions.
They may all call themselves "officers," but they would be wrong.
My guess is this is what your Board looks like:
Director One/President
Director Two/Vice President
Director Three/Secretary
Director Four/Treasurer
Director Five (no officer title so considered a "director at large")
All five directors have only one vote each (most likely, unless your bylaws specify otherwise).
My guess is that you have 5 DIRECTORS.
Of those DIRECTORS, at least FOUR (4) will also hold OFFICER positions.
They may all call themselves "officers," but they would be wrong.
My guess is this is what your Board looks like:
Director One/President
Director Two/Vice President
Director Three/Secretary
Director Four/Treasurer
Director Five (no officer title so considered a "director at large")
All five directors have only one vote each (most likely, unless your bylaws specify otherwise).
JohnK3 (Pennsylvania)
Posts: 967
Posts: 967
Posted:
Carol,
What do your docs say? Ours provide for a BOD of 3 and 4 Officers (P, VP, S & T), while an asst. S or T or other Officers may be appointed by the BOD. The P & VP must be members of the BOD. Except for the P, others may hold multiple officerships (such as me, who be both S & T).
And our Membership thinks all three of us are treasures.
What do your docs say? Ours provide for a BOD of 3 and 4 Officers (P, VP, S & T), while an asst. S or T or other Officers may be appointed by the BOD. The P & VP must be members of the BOD. Except for the P, others may hold multiple officerships (such as me, who be both S & T).
And our Membership thinks all three of us are treasures.
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