Re: Need Suggestions for complying with bank guidelines to opening cohousing bank accounts etc
From: Sharon Villines (
Date: Mon, 12 Apr 2010 06:11:01 -0700 (PDT)

On Apr 12, 2010, at 8:03 AM, Kristen Simmons wrote:

We have these officers not just to satisfy the bank, but because of the
critical need for accurate records as we go forward.

This is very important. It is also important that they be able to act in emergencies.

As time goes by, the need for some central point of authority will become clearer. Someone has to take charge in emergencies, keep good records, and be legally responsible for the affairs of the organization. And they should be insured for liability. There is special insurance for board members of organizations and they should be responsible for decisions that may incur liability.

40-50 people aren't going to do that collectively, and if they all do it individually, you will have a mess.

What usually happens is that individuals do fill these roles but they do it by default and with no control by the group. There is no such thing as a leaderless group.

Sharon Villines
Takoma Village Cohousing, Washington DC

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