5. HRSR 03-01-2010 - Laserfiche WebLink

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7.3 Removal. Upon an affirmative vote of a majority of the members of the Board, any.. officer may be romoved, with or without cause, and a successor elected, 'at any regular meeting of the Board, or at any special meeting of the Board called for that purpose. 7.4 President. The President shall be the chief executive officer of the Association, and shall preside at all meetings of .the Board and the Association. The President shall have all of the powers and duties which are customarily vested in the office of president of a corporation,. including without limitation the duty to supervise all other officers and to execute all contracts and similar obligations on behalf of the Association. The President shall have such other duties as may from time to tine be prescribed by the Board, I 7,5 vice President. The Vice President shall tako the place of the President and P erfonia the duties of the office whenever the President shall bo absent or unable to act., The 'Vice President shall also perform such other duties as shall from time to time be prescribed by the Board. 7,6 S ecretM. The Secretary is responsible for recording the minutes of all meetings of the Board and the Association. The Secretary shall be responsible for keeping the books and records of the Association, and shall give all notices required by the Governing Documents or the Act unless directed othem'se by the Board. The Board may delegate the Secretary's administrative functions to a managing agent; provided, that such delegation shall not relieve the Secretary of the ultimate responsibility for the Secretary's duties. 7.7 Treasurer. The Treasurer is responsible for all financial assets of the Association, and shall be covered by a bond or insurance, if reasonably available, in such sum and with such companies as the Board may require. Tlie Treasurer shall (i) be responsible far keeping the Association's financial books, Assessment rolls and accounts; (ii) cause an annual financial report to be prepared, subject to review by the Association's accountants; (iii) cause the books of the Association to be kept in accordance with generally acc6pted accounting praefices and shall submit them to the Board for its examination upon request; (iv) cause all moneys and other monetary assets of the Association to be deposited in the name of or to the credit of the Association in depositories designated by the Board; (v) cause the proper obligations of the Association to be paict when due; and (vi) perform all other duties incident to the office of Treasurer. The Board may delegate the Treasurer's adnnini.strative functions to a managing agent; nt; that such delegation shall not relieve tho Treasurer of the ultimate responsibility g for the Treasurer's duties. 7.8 c_m sation. Except as authorized by a vote of the Owners at a meeting thereof, officers shall receive no compensation for their services in such capacity. Officers may be reimbursed for out --of- pocket expenses incurred in the performance of their duties. An officer or an entity in which the off�cor has an interest may be reasonably compensated under a contract for goods -and services wished to the Association in a capacity, other than as an officer; p rovided (i) that the contract is approved by a majority vote of the Board, excluding the interested party, and (ii) that the officer's interest is disclosed to the Board prior to approval. 7.9 Standards of Conduct. in the sprit of fairness, it is the duty of each officer to represent the entire Bluffs of Ell{ River, Condominium community for the good of the com' Munity as a whole, Accordingly, each Association officer shall discharge the duties of the position of MPLrs Word 202367.2 to