TEL3 By-Laws (6 of 10)
He shall have general and active management of the affairs of the Corporation, but he/she may delegate in whole or in part his/her management in writing to the superintendent or administrator or to other officers or members, subject to the approval by the Board.
He shall execute or see to it that the policies and decisions of the Board and those adopted in the meetings of the members of the Corporation are properly executed and complied with.
Section 3. The Vice-President. In the absence or disability of the President, the Vice-President shall assume the powers and duties of the President. He shall generally assist the President and generally exercise such powers and perform such duties as shall be prescribed by the Board.
Section 4. The Secretary. The Secretary, who must be a citizen and resident of the Philippines, shall keep the minutes of all proceedings of the Board and of the members of the Corporation. He shall attend to the giving and serving of all notices to the members and Directors as well as other notices required by law and the Master Deed of the Project. He shall keep the records of the Corporation, except those of the Treasurer, and shall perform all other duties incident to the office of the Secretary of the Corporation and as may be required by the Directors or of the President. An Assistant Secretary may be appointed, whose duty shall be generally to assist the Secretary and act as Secretary in the absence of the latter, and perform such other duties as may be required by the Directors or by the President.
Section 5. The Treasurer. The Treasurer shall have custody of all funds and properties of the Corporation.
Subject to the countersignature of the President. or such other officer/s as may be designated by the Board. the Treasurer shall sign all checks. drafts, notes or orders for the payment of money or withdrawal of funds of the Corporation; he shall endorse for deposit to the credit of the Corporation all checks, notes. drafts. bills and other commercial papers issued or delivered to the Corporation, with such banks and financial institutions as may be designated by the Board.
He shall render an annual statement of the assets and liabilities of the Corporation for approval of the Board. and a statement of his cash account at any time that he may be required to render by the President or the Board.
He shall keep the required and proper books of account, and enter therein a full and accurate account of all monies and properties received and paid by him in behalf of or for the account of the Corporation.
He shall perform all acts incident to the position of the Treasurer and as chief financial officer of the Corporation, subject to the control of the Board and the President.
The Treasurer may be required to post a bond to ensure faithful performance of his duties, the amount of which shall be subject to the discretion of the Board.
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