Authorized Signers on HOA Bank Accounts

It is common practice for the board of directors for a homeowners association to designate one or more individuals to be the “authorized” signers on HOA bank accounts. Some boards adopt resolutions that authorize all of the current board members to sign on the association’s accounts in an effort to make sure there is always someone available to sign necessary checks. Some may even authorize property managers or other personnel who are not directors of the association to sign on the accounts. Other associations are more restrictive and elect to authorize some, but not all directors to sign on the HOA bank accounts in order to maintain stricter control over the association’s funds.