HomeMy WebLinkAbout1713 Section 8. The Treasurer.
(s) He shall have custody of the corporation
funds and securities and sfi all keep full and accurate
accounts of receipts and disbursements in books belong-
ing to the corporation and shall deposit all monies and
other valuable effects in the ~ame of and to the credit ;
of the corporation in such depositories as may be des-
ignated f~om time to time by the Board of Directors. The
books shall reflect an account for each unit i~ the man-
ner required by Section 711.12 (7) (B) of the Condominium
Act.
(b) He shall disburse~the funds of the corpora-
tion as may be orde~ed by the Board in accordance with
these 8y-Laws, making prope~ vouchers for such disburse-
ments, and shall render to the President and Board of
Directors at the regular meeting of the Board of Direc-
tors, or whenever they may require it, an account of all
of his transactions as T~easurer and of the financial
condition of the corpo~ation.
(c) He shall coliect the assessments and shall .
promptly report the status of collections and of all de-
linquencies to the Board of ~irectors.
(d) He shall give status reports to potentiai
transferees, on which reports the transferees may reply.
~ (e) The Assistant Treasurer shall perform the
duties of the Treasurer when the Treasurer is absent or
incapacitated.
ARTICLE V. FISCAL MANAGEMENT
Section 1. Depositories. The funds of the cor-
t poration shall be deposited in such banks and deposito-
~ _ ries as may be determined by the Board of Di rectors from
f time to time, upon resolutions approved by the Board of
! Directors, and shall be withdrawn only upon checks and
~ demands for money signed by such officer or officers of
~ the corporation as may be designated by the Board of Di-
~ rectors. Obligations of the Corporation shall be signed
by at least two officers of the Corporation.
Section 2. Fidelity Bonds. The Treasurer and all
officsrs who are authorized to sign checks~ and all of-
ficers and employees of the Association and any contractor
handling or responsible far Association~funds, shall be
~ bonded in such amount as may be determined by the Board
of Directors. The premiums on such bonds shall be paid ,
~ by the Association. The bond shall be in an amount suffi-
~ cient to equal the monies an individual handles or has
~ controi~via a signatory or a bank account or other deposi-
~ tory account.
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