(1) The members of the board shall elect a chairman, vice-chairman and secretary-treasurer to serve as officers for a period of one year or until re-elected or a successor is elected. Newly elected officers shall be declared installed immediately following the election.
    (2) The officers shall perform the duties enumerated below and other duties prescribed by the board:
    (a) The chairman shall preside at meetings of the board; sign, with the countersignature of the secretary-treasurer, as authorized by the board, any contracts or other instruments which the board deems in the association’s best interest; and perform such other duties incident to the office as may be prescribed by the board.
    (b) The vice-chairman shall assist the chairman in the performance of the chairman’s duties, and either in the absence of the chairman or in the event of the chairman’s inability or refusal to act, shall have the powers and shall perform the duties of the chairman.
    (c) The secretary-treasurer shall be responsible for keeping minutes of the meetings and the records of the board; attesting the signatures of board officers; and seeing that notices are duly given in accordance with the provisions of these rules or as required by law.
    (d) The secretary-treasurer shall be responsible for periodically reviewing the financial needs of the administration and, at least quarterly, reporting to the board regarding its financial condition. The secretary-treasurer shall also be responsible for monitoring and reporting on the expenditure of funds for compliance with actions authorized by the board.
Rulemaking Authority 120.53, 120.54, 163.01 FS. Law Implemented 120.53, 120.54, 163.01 FS. History-New 10-16-88.