9-224 - Arizona Statutes

9-224. Treasurer; term; oath; bond; compensation; duties A. The board of trustees shall appoint from the qualified electors of the corporation a treasurer, who shall hold office at the pleasure of the board, take the oath of office and execute a bond to the state for the use and benefit of the corporation, conditioned upon the faithful performance of his duties as treasurer. The bond shall be for not less than twenty thousand dollars, and in such sum in excess of that amount as the board may order. The board shall approve the bond and the sureties thereon by endorsement thereon, and may at any time require a new or additional bond. The bond with all endorsements shall be recorded at length in the records of the proceedings of the board, and filed in the office of the clerk. B. The compensation of the treasurer shall be fixed by the board at the time of his appointment in a sum not to exceed two hundred dollars per year, to be paid at such times as the board may, by order or resolution, direct at the time of fixing the amount thereof. C. The treasurer shall perform such duties and be subject to the same liability for misfeasance or malfeasance in office as may be prescribed by law for treasurers of municipal corporations, or for their punishment for dereliction or failure to perform official duty. He shall, in addition, be subject to the ordinances of the corporation and the resolutions and orders of the board of trustees. D. The treasurer may be required by an order of the board to make settlement at such times and as often as the board shall direct. All settlements of the treasurer shall be based upon an actual exhibit and count of the funds in his possession. Failure or neglect to accompany settlement with an exhibit and count of the funds shall be a breach of the official bond of the treasurer. E. No person shall be eligible to the office of treasurer for more than two consecutive years.