SHOULD
BOARD MEMBERS GET PAID?
By Eric Glazer, Esq.
Published April 30, 2012
The
Florida
condominium statute provides that:
Unless
otherwise provided in the bylaws, the officers shall serve
without compensation and at the pleasure of the board of
administration. Unless otherwise provided in the bylaws, the
members of the board shall serve without compensation.
The
Florida HOA statute provides:
COMPENSATION
PROHIBITED.—A
director, officer, or committee member of the association may
not directly receive any salary or compensation from the
association for the performance of duties as a director,
officer, or committee member and may not in any other way
benefit financially from service to the association. This
subsection does not preclude:
(a)Participation
by such person in a financial benefit accruing to all or a
significant number of members as a result of actions lawfully
taken by the board or a committee of which he or she is a
member, including, but not limited to, routine maintenance,
repair, or replacement of community assets.
(b)Reimbursement
for out-of-pocket expenses incurred by such person on behalf of
the association, subject to approval in accordance with
procedures established by the association’s governing
documents or, in the absence of such procedures, in accordance
with an approval process established by the board.
(c)Any recovery of
insurance proceeds derived from a policy of insurance maintained
by the association for the benefit of its members.
(d)Any fee or
compensation authorized in the governing documents.
(e)Any fee or
compensation authorized in advance by a vote of a majority of
the voting interests voting in person or by proxy at a meeting
of the members.
(f)A
developer or its representative from serving as a director,
officer, or committee member of the association and benefiting
financially from service to the association.
