It can be challenging to schedule an annual meeting that fits everyone’s schedule. For example, some unit owners may not be able to attend during the day, while other unit owners may work at night.
There is another way to hold annual meetings that simplifies the process for everyone. BuildingBoard gives you the ability to hold your annual board meetings virtually.
A challenge faced by most HOA, condo, and co-op boards is having a quorum at the annual meeting. Without a quorum, you cannot conduct business. However, getting enough people to a specific place on the same day and time can be impossible.
BuildingBoard makes annual meetings more accessible for everyone. First, invite owners to the annual meeting by email. Then, when the meeting is ready to begin, owners can access the video feed on their smartphone, tablet, or desktop computer. There is no software to download.
Voting is electronic. Therefore, you never have to worry about reaching a quorum in person. By holding your meeting virtually, you increase the number of owners who are able to attend the meeting and vote. Your quorum problems are gone forever.
Why is it important to have a quorum? If you do not meet the quorum, you cannot elect new board members or conduct other business. You must reschedule the annual meeting. What happens if you cannot reach a quorum at the rescheduled meeting? You must reschedule the meeting again.
It can be expensive to reschedule annual meetings and send out new notices to owners. Also, another problem of not reaching quorum is the duty of current board members. In many cases, the current board members must continue to serve on the board until new board members are elected. Therefore, they continue to have a fiduciary duty to the community.
If you cannot reach a quorum, you may be faced with a legal battle to reduce the quorum. No one wants to go to court because of a missed quorum.
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.
Section 47-250 requires that associations hold an annual meeting of the ownership at a date, time, and place in accordance with the bylaws.
A notice of the annual meeting must be given to the owners at least ten days before the meeting, but no more than 60 days before the meeting. The notice must include the items on the agenda. Electronic notice is permitted.
Meetings are held in accordance with the most recent edition of Roberts’ Rules of Order unless otherwise provided in the bylaws or approved by two-thirds of owners present at the meeting.
Section 47-251 defines a quorum as at least twenty percent of the unit owners entitled to cast votes. The owners may be present in person or by proxy at the beginning of the meeting. The bylaws may change the percentage for a quorum.
Annual meetings may be held virtually unless the bylaws prohibit individuals from attending annual meetings through electronic means. Likewise, votes may be submitted through electronic means unless the bylaws prohibit this action.
The Connecticut Condominium Act governs all condos created on or before January 1, 1984. The common Interest Ownership Act governs condos created after January 1, 1984.
According to Section 47-80 of the Condominium Act, the bylaws shall specify the method for calling meetings of the unit owners. The bylaws must also set the percentage of owners attending the meeting, if other than a majority of the unit owners, that constitute a quorum for meetings.
Therefore, unit owners and board members must determine which law applies for annual meetings based on when the condos were built.
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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