President withdraws resignation

We are a small community on the Costa Del Sol. A few months ago our preident resigned but just before the EGM last week she withdrew her resignation & took over the running of the meeting.  Is this legal?

I was glad actually because the guy who wanted to be president wanted to to get insurance, pool mainenance etc. at rock bottom prices.  Also wanted to run down the reserve fund by using it to reduce fees.

A Presidente cannot resign anyway! Another has to be elected by majority vote at a properly conviened meeting. No longer being an owner or dying or via the Courts is the only way you can get out of being President!

The reserve CANNOT be used to reduce Community fees. It can only be used for certain items ( I think one is insurance ) but a reserve fund is just that, for emergency.

You have a reserve fund?  Wow, can't remember the last time our community could actually afford to have a reserve fund!

I think you better just hope that your president is voted out at the next AGM, as Karensun says, the president can't just resign.

Perhaps what was meant was to reduce the fees so that the reserve didn't continue to grow as much?

My community has a healthy reserve, so we have been reducing our fees a bit over the last 3 years.

The reserve fund has only to be 5% of the annual budget to comply with HPL requirements, anything above that can be used for whatever the community decide.

Barry

 Interesting post about a resignation of a president. 

A president can delegate his / her duties to the Vice president in times when he / she can not be avalable to the community  but can only be removed by a court or election of another at a formal meeting of the community ( AGM or EGM).

In terms of the reserve fund this is as fighter points out limited to 5 %minimum by law of the community overall annual budget so any surplus again as pointed out is for the community to decide on how this can be used.This can include reducing the annual budget needed by introducing surplus cash from the reserve of the required 5% & hence reducing the annual member's fees. It should be noted it is the member's money that has been paid into the account in the first place so they are in fact being returned their own funds.

F.Parkinson Jacksons Administradores SL.