Board President Employee of management company

Hi everyone, our association president is also a paid employee of our management company here in the state of Florida. In the contract that was signed byt the board of the directors including the president, it clearly states that no one who lives in our community can be employed by the management company.
My question is as follows: Is there anything that can be done? are'nt they violating the contract and is it illegal for the president of the board to also be an employee?
Please help, he either needs to be the president or an employee, what can we do? We know it's a conflict of intrest, we brought it up in the meetings but we never get a solution. The president also decides who gets the contracts in our community.

Hector,

As Glen has suggested you need to look at the exact wording in the contract. I can't see how any conflict of interest could occur if the Pres' position with the mgmt co had nothing to do with your assn. Are you a board member who "knows" these details or a member who has "heard" what's going on?

You also mention that the Pres ". . .decides who gets the contracts in our community". IMO, this is not proper procedure; the entire BOD should vote on who is awared a contract. I doubt your bylaws/declaration state the Pres has this authority. He may have the authority to sign all contracts but not to decide who should be awarded them. Again, is this something you know for a fact or just something you heard?

Steve,

What is the obvious reason that makes it a bad idea????

Steve,

The OP did not say the Pres owned the mgmt co only that he is an employee of the mgmt co. And, he did not say in what capacity he worked for the mgmt co. If he is not serving as the manager of the OP's HOA then I see nothing wrong with this. I agree if he owned the mgmt co he certainly should not be a board member as that definitely would be a conflict of interest.