There probably are no rules against it. Check your bylaws to be sure, but it would be unusual for that to be spelled out. It sounds like an awful lot of work, though. Kudos to this person for willing to put in that effort, but she'll need a lot of support to avoid total burnout and still get both jobs done. I wouldn't recommend this situation unless there's really no other choice. Better would be a situation where the person is president of one group and a valued contributor to another but not in the main leadership position.
- Craig
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