We have a small association consisting of 8 detatched townhomes. Is it essential to have a Board of Directors and Officers, or can the Officers serve as the Board of Directors for their two year terms? We manage our association ourselves.
The Board of Directors is typically comprised of Officers as well. As per the 515B.3-103(4) of the Minnesota Statutes, “The board shall elect the officers. The directors and officers shall take office upon election.” Other than that, it is important to check your association’s bylaws for guidance on this matter.
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