Can a president or vice president be the treasurer?

For instance, a president or vice-president can also be the treasurer, as these leadership functions complement each other. Or the secretary can also be the treasurer. A board can appoint officers who are not on the board when directors do not have the time or the willingness to be treasurer or secretary.

Can a president of a condo association be a director?

“The president who’s a board member has the same vote on board actions as any other director,” she explains. “Every director has a fiduciary obligation to the association, and the president who’s also a director should generally vote on all matters before the board unless the president has a conflict of interest on an individual voting item.

Who are the officers of a condo board?

The minimum requirement of a condo board is to have three officers: a president, a secretary and a treasurer, either of the officers can take on two roles, for example, a president can be a treasurer or a secretary can be a treasurer. The president is the leader of the board and is responsible for overlooking the affairs of the corporation.

What are the duties of a condo treasurer?

The TREASURER is responsible for the finances of the condo, including making sure that the financial statements are accurate, the budget is done in a timely fashion, and the reserve fund is sufficient. The treasurer may also be responsible to present to the board a plan for the investment of funds.

Who are the officers of a condo Corporation?

A condo corporation must have three officers: a president, treasurer, and secretary. This is the minimum. Many also have one or more vice presidents. In Ontario, of these officers, only the president has to be a board member elected by owners. A board member can combine two functions.

What are the duties of a condo president?

As well, they chair board meetings and owners’ meetings. One aspect of the potential duties of a president that is little known is that he or she can become the condo’s manager when a board decides not to hire a manager or when a condo is too small to afford one. (Click here for Self-Management)