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unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it j effective. 11.06 A vacancy in any office may be filled by appointment by the Board. The officers appointed to such vacancy shall serve for the remainder ofthe term of the officer being replaced. 11.07 Any person may hold two or more of the same officers except that the President shall not also be the Secretary or Treasurer. The Pre&ident shall be chief executive officer ofthe Association, who shall have all of the powers and duties which are usually vested in the office ofthe President ofa property owners assooiation, including, but not limited to, the power to appoint such committees at such times from among the Members as the President may, in the President's discretion, determine appropriate to assist in conducting the affairs of the Association. The President shall preside at all meetings of the Board of Directors. 11.09 In the absence or disability of the President, the Vice President shall exercise the powers and perform the duties of the President. The Vice President shall also generally assist the President and exercise such other powers and perform such other duties as shall be prescribed by the Board ofDirectors. 11.10 The Secretary shall cause to be kept the minutes of all meetings ofthe Board ofDhectors and tho Members; shall have custody ofthe seal ofthe Association and shall affix the same to instruments requiring such seal when duly authorized and directed by the Board of Director.;: to do so; shall keep the records of the Association, except those of the Treasurer; and shall perform all duties incident to the office ofthe Secretary of the Association as may be required by the Board ofDirectors or the President. 11.11 The Tressurer shall have custody of all the property of the Association, including funds, securities and evidences if indebtedness; shall keep the assessments rolls and ac:counts of the Members; shall keep the books of the Association in accordance with good accounting pra<:tices; and shall perfonn all of the duties incident to the office of a Treasurer.
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ARTICLE XII ACCOUNTING RECORDS AND FISCAL MANAGEMJ::NT
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12.01 The Board of Directors shall appoint a Budget Committee to be responsible for establishing and maintaining the accounting policies and procedures ofthe Association.
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