Arkansas

Arkansas Annual General Meeting Requirements for Condos, Co-Ops, and HOAs

Scheduling an annual meeting or board meeting can be a nightmare. Everyone is so busy that it can be impossible to choose a date and time when everyone can participate. In addition, large communities could have hundreds of homes with joint owners. BuildingBoard has a better way to hold annual meetings and board meetings.

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Population

3,017,804

Housing Units

1,389,129

Owner Occupied

65.60%

Associations

< 1,000

Simplify Your Board Meetings in Arkansas With BuildingBoard

With BuildingBoard, your members and directors can appear remotely at board meetings and annual meetings. By using an internet-based platform, members may participate in live meetings and vote electronically at the same time as everyone else at the meeting.

BuildingBoard is easy to use, does not require downloads of any type, and may promote greater participation in association meetings.

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Risks of Missing a Quorum in Arkansas

A benefit of allowing remote access to board meetings and annual meetings is the chance to increase attendance. Missing a quorum at an association meeting is a waste of time and money. You must reschedule the meeting, not knowing whether you will have a quorum at the next meeting.

Another risk of missing a quorum is the inability to conduct business. The association cannot vote on any measures or elect new directors without a quorum.

Annual General Meeting Requirements

The annual meeting is held to conduct business that impacts the entire community. However, these meetings may also provide owners and shareholders the opportunity to voice concerns or issues.

Condos

The Arkansas Horizontal Property Act governs most condominiums in the state that choose to be subject to the Act by recording a Master Deed or Declaration. 

The bylaws inserted into and recorded with the Master Deed govern the administration of the regime. The bylaws state the form of administration and the method of calling meetings. They should also state that a 51 percent majority is required to adopt decisions.

The statute does not explicitly refer to proxies, voting, quorums, or notices of annual meetings. However, many condominium associations are organized as nonprofit corporations. Therefore, they would be subject to the provisions of The Arkansas Nonprofit Corporation Act of 1993, which we discuss next.

Co-Ops and HOAs

There are no specific statutes for governing co-ops and HOAs in Arkansas. However, most associations are organized as nonprofit organizations. Therefore, they are subject to the provisions of The Arkansas Nonprofit Corporation Act of 1993

Provisions of the Act related to annual meetings of the membership would include:

  • The association shall hold an annual meeting of the membership
  • The notice of the annual meeting shall be given at least ten days before the meeting (30 days if sent by means other than first-class or registered mail) but not more than 60 days before the meeting
  • Written ballots may be used instead of a meeting and returned to the corporation by electronic means
  • Unless the bylaws state otherwise, a quorum is met if ten percent of the votes entitled to be cast on a matter are represented at the annual meeting
  • Only matters discussed in the notice of meeting may be voted upon unless there is a 1/3 quorum present in person or by proxy
  • Members are permitted to vote by proxy unless the bylaws or articles prohibit proxy voting or restrict proxies

In most cases, the bylaws and articles are the controlling documents for the association unless the terms or provisions violate the law.

Virtual Annual Meetings in Arkansas

The Arkansas Nonprofit Corporation Act of 1993 nor the Horizontal Property Act refer to remote meetings for members. However, §4-33-820 of the Nonprofit Corporation Act permits board members to participate in meetings through any means of communication by which all directors participating in the meeting can hear each other. 

Board members can check their bylaws and articles to determine whether there are provisions for remote meetings for members. They may also consult with the association’s lawyer for advice and guidance.

Hold Your Arkansas Annual Board Meetings Virtually with BuildingBoard

BuildingBoard is easy to use, convenient, and avoids problems reaching quorums. Schedule your meeting, invite members via email, and conduct the vote on the day of the meeting. Your members vote via their smartphone or computer.

Are you ready to simply your annual meetings? Contact BuildingBoard to learn more about our services and to schedule a demo.

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