May 17, 2014 12:00 AM

Condo Line: Board wants to ‘invest’ our money

Q: Our board asked our lawyer to write up a draft of a proposed change to our depository requirements in our bylaws. In essence it deletes the word “Bank” and replaces it with the words “Financial Institution” — giving the latitude to our board to place our money in investments such as bonds, which is already being done.

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