Can a portion of a meeting be immediately recorded in Minutes and then approved by the Board?

[Nicolette Munoz]

Our HOA meets every 2-3 months.  We usually have our Minutes approved at the next meeting. In August we had our Annual Meeting where I was elected to Treasurer. I have contacted our banks and they say that they need "Approved Minutes" designating me as the Treasurer, designating the signers to be added to the account, and designating the signers that should be removed from the accounts. Of course we didn't do this. The Minutes that are not yet approved. They state that I was elected Treasurer, but none of the other details.  Luckily, the woman who was elected Secretary was never taken off the accounts and can sign.

Here is the question: At the November Meeting, can I, if I add to it the Agenda, call for a motion and vote, to designate the signers, designate the removal of the signers, and immediate recordation and approval of the Minutes for this action? Is there a simpler or faster way of accomplishing what I'm trying to do? 

Help!

[Hieu H. Huynh]

The minutes could be drafted in advance and approved at the meeting.

[Atul Kapur]

The association can also create a Minutes Approval Committee so that you dont have to wait for the next meeting to have the minutes approved.

[Dan Honemann]

The way this is most often done is by the adoption of what are referred to as "banking resolutions", and in many, if not most, instances the bank will be happy to provide the form of resolution or resolutions which they prefer.

[Richard Brown]

I agree with all three previous responses. As Mr. Huynh said, the minutes can be prepared in advance and approved at the meeting,, but that may not the best method. It is difficult to know in advance everything that will be done at a meeting that needs to be in the minutes.  I believe a minutes approval committee, as Dr. Kapur suggested, would be better as that committee could approve the minutes very quickly, even shortly after the meeting adjourns or as early as the next day.

Agreeing with Mr. Honemann, a blank resolution, whether on a form provided by the bank or on one created by the society, could be approved and signed by the appropriate officers at the meeting. There is no need to wait for the minutes to be approved before signing the resolution. It can be signed at the meeting and taken to the bank the next day.
 

 

[Gary Novosielski]

I'm surprised the bank believes it needs minutes.  In every case I've seen a resolution signed by the secretary is sufficient.  The bank should be able to supply the format.  Normally it will say something like:

I <name/title> certify that the following is a true and correct copy of a resolution adopted at a properly called meeting of <society> at which a quorum was present.

RESOLVED, that....

And the resolution would have the name of the bank, and the account, as well as the names to be added, withdrawn, and how many signatures are to be required on checks.

[Richard Brown]

7 hours ago, Gary Novosielski said:

I'm surprised the bank believes it needs minutes.  In every case I've seen a resolution signed by the secretary is sufficient. 

In my experience,  it's not unusual for banks to want a copy of the minutes, either in addition to the bank resolution or in lieu of it. 

[Gary Novosielski]

13 hours ago, Richard Brown said:

In my experience,  it's not unusual for banks to want a copy of the minutes, either in addition to the bank resolution or in lieu of it. 

I understand why they would want it "in lieu of" a certified copy of the resolution, but having both would be needlessly redundant.  I would strongly object to their demanding a complete copy of the minutes of that meeting, since it is likely to contain information which is none of their business. 

I've had banks make unreasonable demands before, but pushing back is successful more often than you might think.  As often as not, what some lower level employee claims is a rule is really a misinterpretation of what someone once told him in passing.

 

Edited October 1, 2020 at 04:08 PM by Gary Novosielski