Quote:
Posted By JohnM9 on 10/11/2006 11:45 AM
Just because the president is a board member it does not mean the treasurer is. More often than not the treasurer is a Board member but do they have to be? Our Board Members have selected a treasurer and sec that are not board members. I am now going to look into it to see if they are suppose to be.
Quick answer: Most likely, YES, the secretary and treasurer must be board members, because typically, those are officer positions in the corporation, and filled by HOA regulations by board members.
However, that does NOT mean that the person with the treasurer title has to be the accountant, bookeeper, etc. That can be someone else entirely, and not necessarily a board member. However, legally, the person on the board given the title of treasurer is the legal person responsible in the eyes of the law for 'treasury things".
Same with secretary. someone else can take notes and transcribe, but typically, a board member with the title secretary is the one legally responsible to sign their name, etc..
One way to think of it is that most counties have a County Recorder. However, that person does not have to physically record every item in the county, that person has others that the tasks are delegated to. But, it's his/her signature, and his/her liability on the line for all legal intents and purposes.