Question:
We have a volunteer association and are going to loose a very good treasurer, due to the high cost of living in CA she will be seeking a paid job. I have posted the position to find another treasurer to no avail. What is the possibility of paying for this position and removing it as a volunteer
– Robin
Answer:
Hi Robin,
Kindly review the governing documents to verify who can serve on the board. It may have prohibitions and requirements stating that the board member or treasurer must be a member or whether or not they can receive compensation. If there are no prohibitions or requirements, then you may be able to hire a managing agent to do the treasurer’s duties or compensate a director to act as treasurer.
However, be sure to keep in mind that there may be protections lost if a director receives compensation. It may also be wise to consult a lawyer before you proceed with compensation. You can find a lawyer using our online directory: https://www.hoamanagement.com/
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
