0
Q:

What's the difference between a board member, a director, and an officer of a condominium?

Write a comment...

Answers

0
A board member and a director are one and the same: each condominium is governed by a board of directors, which consists of anywhere from 1 to 9 or more members. The number is specified by the condominium documents. The board of directors are elected by (and can be removed by) the co-owners; i.e., the membership of the project. The board of directors sets the policies for the association and determines the annual and additional assessments. Officers are elected by (and may be removed by) the board of directors to carry out the day-to-day operations of the project. Most condominium documents call for a president, vice president, secretary, and treasurer. Directors may be officers, and the officers of a condominium are, more often than not, also directors of the association. However, most condominium documents do not require officers to be directors and indeed some do not even require officers to be co-owners. The major distinction is in who elects them: directors are elected by co- ... more
sowell-law.com
1 more source
Hide
Write a comment...
Thanks for your feedback!

Related Videos


Not the answer you're looking for? Try asking your own question.

...