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Recently the president of our condo board died and so far we have not been able to replace him. Is it possible to have co-presidents? The position is too time consuming for one person,there are two of us who work well together and can share the responsibility.
Take a look at your bylaws. In most cases, as far as I know, it's possible to have two vice presidents but not two presidents, nor two treasurers. Your bylaws should spell it out.
Also, usually, officers are appointed by their peers on the board (not elected by shareholders). Board members are elected by the shareholders; officers are then appointed by fellow board members.
It's great that the two of you work well together. Makes for a productive board! Maybe one of you could take a turn as president this time around and the other could serve as VP; then next year, switch. In the case of our board, the titles are really just formalities. At least that's the way it is now, and we find it much more productive this way. (For four or five years, we had a BP who over-identified with his role, took it and himself far too seriously, and the result was completely dysfunctional: just a mess!)
The hierarchy is a legal requirement for corporations, but the titles don't have to be overly rigid.
Good luck, and let us know what happens.
Co-President is not the best solution.. How about a Vice-President?
And since you should have a VP, perhaps they need to step up and take over some of the responsibilities..
AliceT
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Check your Proprietary Lease....
Generally, the Board Members elect officers; if you want to elect a Prez and VP of Operations (who would effectively be Co-Prez) it would probably be OK, but I believe in the eyes of the Law, you ultimately have to have a Prez who signs off on documents, etc., a Treasurer and a Secretary who also signs off on docs.
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