Who must sign reserve account checks?

In community associations, the management of reserve accounts is a critical responsibility to ensure that sufficient funds are available for future capital expenditures and maintenance. The correct answer reflects the standard practice of requiring either two board members or one board member along with one officer to sign reserve account checks. This requirement serves multiple purposes:

1. Checks and Balances: Having two signatures enhances the security and oversight concerning the use of reserve funds. It reduces the risk of fraud and ensures that disbursements are legitimate and necessary.

2. Shared Responsibility: By involving multiple individuals in the signing process, accountability is increased. This discourages any single individual from having unilateral control over reserve funds, which can lead to mismanagement.

3. Adhering to Governing Documents: Community associations often have governing documents that specify financial protocols. Requiring two signatures is a common stipulation that aligns with fiduciary duties and responsible governance.

In summary, the requirement for either two board members or one board member and one officer to sign reserve account checks reflects best practices in financial management within community associations, promoting transparency, accountability, and security in handling association funds.