Condominium Corporation Board of Directors Members and Their Duties
Condominium Corporations are guided by boards of director that number from three, five, seven and nine members. This is stated in the declaration and the by-laws that were adopted when the unit was incorporated. These are the deciding persons of a corporation.
The owners who have vested interests are formed into various committees that gather information, hold meetings and report back to the board of directors. When the board of director numbers permit it a dedicated director guides the committee work.
- Calls the meeting of the board of directors
- Acts has as an executive officer.
- Has general management in mind and the direction of the condominium corporation.
- Acts as the ex officio member of all committees of the condominium corporation.
- Establishes a regular meeting schedule for the board of directors.
- Establishes a schedule of auxiliary meetings where or when necessary.
- Signs reports, contracts and statements of the business of the corporation.
- Prescribes duties and offices of directors and committee members not otherwise defined.
- In accordance with the decision of a majority of the board of directors of the condominium corporation employs and discharges subcontractors and employees.
- Sees that all orders and resolutions of the board of directors of the condominium corporation are carried into effect.
- Reports fully to the board of directors of the condominium on all matters.
- Performs the duties of the president in his absence or in case of his inability to act.
- Acts as assistant to the president and acts under his/her direction.
- Performs such duties as are assigned to him/her by the board of directors of the condominium.
- Signs correspondence and other materials with the secretary of the board of directors of the condominium.
- Executes all of the resolutions adopted by the board of directors of the condominium.
- Is the chief recruiter of the board of directors of the condominium.
- Corresponds with the owners and service providers in the name of the condominium corporation.
- Prepares the schedule of meetings.
- Prepares the agenda for the meetings
- Gives notices of meetings by distributing the notice, an agenda and a copy of the previous meeting's minutes.
- Takes the minutes of all meetings, prepares the minutes of those meetings and distributes them to the meeting attendees.
- Read the minutes of the previous meetings, makes changes and gets the minutes accepted, passed and signed by each of the members of the board of directors of the corporation.
- Maintains an archive of two full copies oaf the minutes of each meeting of the condominium corporation board of directors as far back as the records exist.
- Maintains the records of the condominium corporation activities including the business papers of the corporation the reports, the bids, the quotations and the proposals presented to the board.
- Executes the proxies for the owners of the units at eh condominium complex.
- Maintains a calendar of follow-up dates on which the board will conduct any business of the condominium corporation and the committees of the corporation.
- Prepares all correspondence agreed upon and directed by the board and committees of the condominium corporation.
- Maintains the registry of insurance for the common elements as well as the insurance coverage of each condominium unit owner.
- Publishes the periodical newsletter issued by the board of directors containing the information prepared and submitted to the board by the corporation committees.
- Oversees the bank accounts of the condominium corporation.
- Is one of the two signatures on the condominium cheques. Monitors the Accounts Receivables, Accounts Payables, Investments and Reserve Fund accounts of the corporation.
- Keeps stringent control over the operating budget of the corporation.
- Enlists the assistance of the property manager, the accounting staff, committees and various professionals to forecast the financial needs of the corporation.
- Participates in the financial arrangements necessary to maintain the best financial health of the corporation.
- Enlists the participation of the owners of condominiums in the various committees
- Oversees the maintenance of the infrastructure, grounds and equipment of the condominium complex.
- Assists in the recruitment of owners to maintain fiscal vigilance.
- Respond to the concerns of the condominium owners.
- Attend and contribute fully at each committee meeting.