The principal officers of the Association shall be the chair, the secretary and the treasurer, all of whom shall be elected by the board of directors. The directors may appoint a vice chair, an assistant treasurer, an assistant secretary, and such other officers as in their judgment may be necessary The chair shall be a member of the board of directors, but the other officers need not be directors or unit owners.
The officers of the Association shall be elected annually by the board of directors at the organizational meeting of each new board and shall hold office at the pleasure of the board. If any office shall become vacant, the board of directors shall elect a successor to fill the unexpired term at any regular meeting of the board of directors, or at any special meeting of the board of directors called for such purpose.
Upon the affirmative vote of a majority of the directors, officers may be removed either with or without cause, and their successor may be elected at any regular meeting of the board of directors, or at any special meeting of the board of directors called for such purpose.
The chair shall be the chief executive officer of the Association. The chair shall preside at all meetings of the Association and of the board of directors. The chair shall have all of the general powers and duties which are usually vested in the chief executive officer of an association, including but not limited to the power to appoint committees from among the unit owners from time to time as chairs may in their discretion decide is appropriate to assist in the conduct of the affairs of the Association.
The secretary shall keep the minutes of all proceedings of the board of directors and the minutes of all meetings of the Association. The secretary shall attend to the giving and serving of all notices to the unit owners and directors and other notices required by law. The secretary shall keep the records of the Association, except for those of the treasurer, and shall perform all other duties incident to the office of secretary of an association and as may be required by the directors or the chair. In addition, the secretary shall act as vice chair, taking the place of the chair and performing the chair’s duties whenever the chair is absent or unable to act, unless the directors have appointed another vice chair.
The treasurer shall have the responsibility for Association funds and securities and shall be responsible for keeping full and accurate financial records and books of account showing all receipts and disbursements, and for the preparation of required financial statements. The treasurer shall be responsible for the deposit of all moneys and other valuable effects in such depositories as may from time to time be designated by the board of directors, and shall disburse funds of the Association upon properly authorized vouchers. The treasurer shall perform all other duties incident to the office of treasurer of an association and such other duties as may be assigned by the board of directors.
All agreements, contracts, deeds, leases and other instruments of the Association, except checks, shall be executed by such person or persons as may be designated by general or special resolution of the board of directors and, in the absence of any general or special resolution applicable to any such instrument, then such instrument shall be signed by the chair. All checks shall be signed by the treasurer, or in the treasurer’s absence or disability, by the chair or any duly elected assistant treasurer.
No officer who is a member of the board of directors, other than the secretary and treasurer, shall receive any compensation from the Association for acting as an officer, unless such compensation is authorized by a resolution duly adopted by the unit owners. The board of directors may fix any compensation to be paid to the secretary, treasurer and any officers who are not also directors.