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New Condo Trustee - Need to be Bonded to Access Bank Account?

I'm a new condo trustee for our condominium building in Boston, MA.

The former trustees were also those who sold and developed the property. They had control over our bank account, and took money without providing some services.

Someone hired a Property Management Company a year or so ago. They told me I could only have access to the bank account if I'm bonded. (Although they're going to give me access to the financial reports/statements on a website soon.)

How can I find out about becoming bonded? Will this be useful? (Not sure I can afford it -- or if it will allow me to have access to our account.)

I don't know if I/we want to keep this Property Management Company on. So, if we go back to being self-managing, what should I do for a bond/policy?

(We do have an insurance policy that protects the trustees from liability.)


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