NSCA BYLAWS - Article VI: Officers
Section 1. Officers. The officers of the Association shall be a President, one or more Vice Presidents (the number thereof to be determined by the Board of Directors), a Secretary, a Treasurer, and an Alternate Treasurer. The office of President and Vice President may not be held by the same person nor may the President and Vice President hold the office of Treasurer, Alternate Treasurer or Secretary. The offices of Treasurer and Secretary may be combined by a majority vote (4) of the full Board of Directors. All officers shall be Directors of the Association.
Section 2. Election. Term of Office and Vacancies. The officers of the Association shall be elected annually by the Board of Directors at the first meeting of the Board of Directors after the Association’s Annual Meeting. Each officer shall hold office until his/her successor shall have been duly elected or until sooner removed by the Board of Directors with or without cause. An officer may be removed by the Board of Directors at any time, in its sole discretion, with or without cause. A vacancy in any office arising because of death, resignation, or otherwise may be filled by the Board of Directors for the unexpired portion of the term.
Section 3. Powers and Duties. The officers of the Association shall, except as otherwise provided by law, by the Articles of Incorporation, by these Bylaws, or by the Board of Directors, each have such powers and duties as generally pertain to their respective offices, as well as such powers and duties as may from time to time be specifically conferred or imposed by the Board of Directors. The President shall be the chief executive officer of the Association.
Section 4. Absence of Treasurer. When the Treasurer of the Association is expected to be absent from the Property for a period of more than thirty (30) consecutive days, there shall be a temporary transfer of the Association records and duties to the Alternate Treasurer or, in his/her absence, another Director of the Association, other than the current President or Vice President(s). The records and duties to be transferred shall include; all those necessary to produce timely financial reports of the Association, prepare billing of annual Association dues (done on a semi-annual basis), prepare resale disclosure documents as required by the State of Virginia, receive mail, pay and record vendor invoices, receive, deposit, and record receipts, respond to government and legal requests for Association information, prepare and file tax returns and payments. All records (to include accounting software) to be transferred shall be electronic, when available.
Section 5. Signature Authority for Disbursement of Association Funds. Disbursements over $1500 for non-recurring expenses require approval by the President or, in his/her absence, the Vice President, and signature by the Treasurer or, in his/her absence, the Alternate Treasurer. Payment of or reimbursement for non-recurring expenses of more than $300 and less than $1500 require approval by the President or, in his/her absence, the Vice President, and the Treasurer or, in his/her absence, the Alternate Treasurer. Payment of or reimbursement for non-recurring expenses of $300 or less require approval by the Treasurer or, in his/her absence, the Alternate Treasurer. The Treasurer or, in his/her absence, the Alternate Treasurer, is authorized to make payments of up to $2500 for recurring expenses, e.g., insurance premiums, postal box fees, ground maintenance, trash disposal fees, etc. A valid receipt is required for all such payments, disbursements and reimbursements.
Section 6. Annual Audit of Association Financial Records. An audit of the Association’s financial records shall be conducted internally at least once annually. This audit may be conducted by any non-Director individual or entity as selected by the Board of Directors. The results of the audit shall be reported to the President and Treasurer and then presented to the entire Board. Upon transition of the position of Treasurer to another individual, an additional audit may be requested by majority vote of the Board of Directors before acceptance of those records.
Section 2. Election. Term of Office and Vacancies. The officers of the Association shall be elected annually by the Board of Directors at the first meeting of the Board of Directors after the Association’s Annual Meeting. Each officer shall hold office until his/her successor shall have been duly elected or until sooner removed by the Board of Directors with or without cause. An officer may be removed by the Board of Directors at any time, in its sole discretion, with or without cause. A vacancy in any office arising because of death, resignation, or otherwise may be filled by the Board of Directors for the unexpired portion of the term.
Section 3. Powers and Duties. The officers of the Association shall, except as otherwise provided by law, by the Articles of Incorporation, by these Bylaws, or by the Board of Directors, each have such powers and duties as generally pertain to their respective offices, as well as such powers and duties as may from time to time be specifically conferred or imposed by the Board of Directors. The President shall be the chief executive officer of the Association.
Section 4. Absence of Treasurer. When the Treasurer of the Association is expected to be absent from the Property for a period of more than thirty (30) consecutive days, there shall be a temporary transfer of the Association records and duties to the Alternate Treasurer or, in his/her absence, another Director of the Association, other than the current President or Vice President(s). The records and duties to be transferred shall include; all those necessary to produce timely financial reports of the Association, prepare billing of annual Association dues (done on a semi-annual basis), prepare resale disclosure documents as required by the State of Virginia, receive mail, pay and record vendor invoices, receive, deposit, and record receipts, respond to government and legal requests for Association information, prepare and file tax returns and payments. All records (to include accounting software) to be transferred shall be electronic, when available.
Section 5. Signature Authority for Disbursement of Association Funds. Disbursements over $1500 for non-recurring expenses require approval by the President or, in his/her absence, the Vice President, and signature by the Treasurer or, in his/her absence, the Alternate Treasurer. Payment of or reimbursement for non-recurring expenses of more than $300 and less than $1500 require approval by the President or, in his/her absence, the Vice President, and the Treasurer or, in his/her absence, the Alternate Treasurer. Payment of or reimbursement for non-recurring expenses of $300 or less require approval by the Treasurer or, in his/her absence, the Alternate Treasurer. The Treasurer or, in his/her absence, the Alternate Treasurer, is authorized to make payments of up to $2500 for recurring expenses, e.g., insurance premiums, postal box fees, ground maintenance, trash disposal fees, etc. A valid receipt is required for all such payments, disbursements and reimbursements.
Section 6. Annual Audit of Association Financial Records. An audit of the Association’s financial records shall be conducted internally at least once annually. This audit may be conducted by any non-Director individual or entity as selected by the Board of Directors. The results of the audit shall be reported to the President and Treasurer and then presented to the entire Board. Upon transition of the position of Treasurer to another individual, an additional audit may be requested by majority vote of the Board of Directors before acceptance of those records.
