Legal Definitions - treasurer

Definition: A treasurer is the chief financial officer of an organization. Their main responsibilities include managing the organization's finances, depositing or investing funds, safeguarding the organization's money, monitoring compliance with financial laws, disbursing money as authorized, and reporting on the state of the treasury.

For example, a treasurer of a non-profit organization would be responsible for managing the organization's donations, ensuring that the funds are used appropriately, and reporting on the financial status of the organization to the board of directors. Similarly, a treasurer of a company would be responsible for managing the company's finances, ensuring that bills are paid on time, and investing excess funds to generate a return for the company.

These examples illustrate how a treasurer is responsible for managing an organization's finances and ensuring that the organization is financially stable and compliant with financial laws.