HomeMy WebLinkAbout2881 ~
. '
5.5 The Treasurer shall have custody of all property of the ;
;
Association, including funds, securities and evidences of indebted- ~
. ;
ness. Ee s:isll keep the books of the Association in accordance
with good sccounting practices; and he shall perform all other
- -
duties incident to the---officQ -oP `:'rea~urer. The Assistant ^reasur- _
er, if any, shall per~orm the duties of the Treasurer when the
'~'ressurer is absent, and shall otherwise assist the ?'reasurer.
~.6 No compensation shall be paid to any officer of the
Association except with the approval of a ma~ority of ~he member-
sh~p, reflected by a vote taken at a duly constituted rr~r~bersri ~
meetir~. No officer who is a designee of
the Developer shall
+
1
receive any car?pensation for his services as an officer. Noth-
ing herein shall be constructed so as to prohi~it or prev~nt
the Eoard of Direc~ors from ec~ploying any director or officer
as an er~ployee of the ~ssociation at such compensation as tr.e
Board shall determine upon, nor shall anything herein be con-
~ strued so as to preclude the Bo2rd from contract;ng with a di-
f
~ rector or of~icer or with any corporation in which a d;rec~or
~ or o~'ficer of ~he ~ssociation m:y be stockholder, officer, di- '
~
€
~ rector or employee, for the management of the Condo~r3nium for
E
~
4 such compensation as shall be mutually agreed between the Boarci
3
~ and such of~icer or director.
z 6. Fiscal m.anagement. ':he provisions for fiscal management of the
~
~ Associa~ion set forth in the Declaration of Conao:ninium and ~,r~icles of
~
~ T_ncorporatian shall be supplemented by the following provisior:s:
~
~
~
~ ~.1 ~ccounts. The receipts and expenditures of the
~
~ ~.ssociation shall be c: edited and cr.2rged tc accour,~s undz~
~ ~he following classifications as sh211 be aPpropriate, all o=
ti,
~ *~*hic'r. expen:ii,ures snall be corzr.on expenses: ~
_ (a j Current ex~er.ses, Vr?:icr, srail incluae all ~
_ ~
: ece~p~s ar~ expenditures within the year for which
- the budget is r~,ade, including a reasonable allow-
~ ance for contingencies ann k•orking funds, zxcept
;
„ 3
expenditures chargeable to reserves, to additiora I ~
'7`t
_ ~
~~.9
~J`
'µ~r
} p
~%~Y 600K~98 PAGE28~
- - iG-
LAW OFFICES OF GOLG57cIN FRANFCL~N. CNGNIV A SCHRANK. P. A.. 2020 NORTHEAST 163NO STREET. NORTH MIAMI @EACH. FLOR~~A 33162
- _