Q. We recently had to vote to remove our board president from his position, because he was taking small amounts of funds on a regular basis. He said it was all ‘petty cash reimbursements,’ but he never told the board or treasurer about many of them. Our new treasurer happened to notice these as he was going through papers.
The problem is that this man is still on the board, running around to shareholders and telling them that he was thrown off without reason. We have many papers to prove this is not true. He is getting the residents very agitated, having them believe that the new board members are going to destroy the co-op. He is also calling the management company as often as eight times a day, complaining to them that he was overthrown without cause.
My questions are:
He is lying to shareholders and harassing them and members of the management company. His behavior is very erratic. How can we remove him from the board?
This man has said that nobody but the treasurer is entitled to know what the president uses petty cash for. Is this true? (The treasurer only knew about a very small portion of these expenses.)