Page 5 - McGowan Program Administrators
P. 5
CHECK YOURSELF
Fraud Prevention Checklist
See the full checklist on our website: www.mcgowanprograms.com/resources :
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Touches upon Qualified Professionals, Financial Analysis, Checks & Balances, and Insurance
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Is an audit, compilation or review of the association’s financials conducted annually?
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Are background checks performed on all employees, board members, volunteers, and independent managers who handle association funds?
TEST YOURSELF
Board of Directors Test
QUESTION
1. The association Board of Directors’ authority is set
forth in the articles of incorporation.
2. The association by-laws set forth
(a) How Directors & Officers are elected (b) Notice requirements for meetings (c) Who is eligible to vote
(d) The terms for officers & directors
3. Original by-laws cannot be amended to reflect the changing needs of the association.
4. The procedure for amending the by-laws requires a unanimous vote of the association membership.
5. State laws require that board members read the by- laws prior to taking office.
6. By-laws take precedence over state law.
ANSWER
True or False?
A. B. C. D.
True or False? True or False?
True or False? True or False?
