Board of Directors - Position Descriptions
|The Association acts through its Board of Directors. Provided here are general descriptions of the duties and responsibilities of board members. Refer to the covenants for the official stipulations governing the Board of Directors. In the event that residents are unwilling to fill these positions or the Board is dissolved, a public agency shall be dedicated to uphold and enforce the covenants, the Association shall exist perpetually.|
The president of an association is vested with all the powers generally given to the chief executive officer of a corporation. It is generally presumed that he or she will preside at all meetings of the board and the membership. The president will execute contracts, orders and other documents in the name of the association as its agent.
The president also assumes general charge of the day-to-day administration of the association and has the authority to order specific actions in furtherance of the board's policies. The president serves as spokesman for the board of directors in most matters relating to general association business. Like all officers of the association, the president has an affirmative duty to carry out the responsibilities of the office in the best interests of the association in accordance with the covenants or bylaws. One of the primary duties of the president is to be the main point of contact between the Association and the Management Company.
The vice-president is vested with all the powers which are required to perform the duties of the association president in the absence of the president. The vice president does not automatically possess inherent powers to act in the capacity of the chief executive officer, and may act for the president only when the president is actually absent or otherwise unable to act. The vice-president may assume such additional duties as are defined by the board of directors.
The treasurer is the custodian of the funds, securities and financial records of the association. When the association has a manager or management company that actually handles the funds on a daily basis, the treasurer's duties will include overseeing the appropriate people to insure that the financial records and reports are properly kept and maintained.
The treasurer does not have the authority to bind the association or the board of directors in dealings with third parties unless the board has provided express authority for the treasurer to do so. The treasurer will ultimately be responsible for insuring that the financial records of the association have been maintained properly in accordance with sound accounting practices.