§ 7071 Director And Treasurer Roles
A company's director cannot also be its treasurer, and the secretary and treasurer are paid by the board and can be removed whenever the board wants.
A company's director wants to also handle the treasurer duties, but the board decides to keep the treasurer role separate and sets their pay, and can fire them at any time.
Because the law says a director can't be treasurer, the board must choose a different person for treasurer, decide how much they get paid, and they can let them go whenever they choose.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 7071 Director And Treasurer Roles
Last verified: January 11, 2026