Delaware

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

Over the past couple of years, we have become accustomed to doing more things online. We are becoming comfortable with virtual classrooms, ordering groceries online, and even virtually attending our doctor’s visits.

Virtual meetings have become the “norm” in light of the global pandemic. As a result, many corporations have started holding board meetings and annual meetings virtually. In addition, HOAs, co-ops, and condominium boards have realized that virtual annual meetings have numerous benefits.

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Population

973,764

Housing Units

1,524,992

Owner Occupied

71.20%

Associations

1,000 - 2,000

Simplify Your Board Meetings in Delaware With BuildingBoard

BuildingBoard has made holding your board meetings and annual meetings simple and cost-effective. Our virtual platform does most of the work for you. 

All you need to do is choose your meeting date and invite shareholders or unit owners. Then, with a few clicks of a mouse or taps on a screen, members can attend the annual meeting virtually and submit their votes electronically. 

Our platform is browser-based, meaning there is nothing to download. Owners and shareholders can vote and attend the annual meeting from anywhere they can access the internet with a browser. Our virtual meeting platform works on smartphones, laptops, desktop computers, and tablets.

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Risks of Missing a Quorum in Delaware

Are you tired of rescheduling your annual meeting or board meeting because you did not have a quorum present? If so, BuildingBoard can help. Hold your meetings virtually to avoid missing a quorum. 

Rescheduling annual meetings are time-consuming and costly. In addition, there is no guarantee that you will have a quorum during the rescheduled meeting. Instead of rescheduling meetings repeatedly to obtain quorums, use our platform to hold your meeting entirely online. We have taken care of all the hard work for you.

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.

Annual Meetings

Section 81-308 states that the association must hold a meeting for members at least once per year. Special meetings may be held as needed. Prior notice of the annual meeting must be given to unit owners and shareholders. 

The notice cannot be provided more than 60 days in advance of the meeting, but it must be given at least ten days before the annual meeting. The notice must state the time and place of the annual meeting. It must also include a description of the agenda for the annual meeting.

Annual Meeting Quorums

Section 81-309 sets a quorum for annual meetings of at least 20 percent of the votes in the association. The bylaws can change the quorum to a larger percentage. A quorum also exists if the people attending the meeting and the number of proxies solicited for the meeting equal at least 20 percent of the votes.

Votes may be cast by paper ballot or electronically. Votes may also be cast without a meeting by paper ballot or electronically.

Virtual Annual Meetings in Delaware

Whether the association may hold a virtual annual meeting depends on the articles of incorporation, charter, and bylaws. If the organizational documents do not prohibit virtual meetings, the annual meeting should be able to be held online, according to the American Bar Association

However, the law requires corporations to take reasonable steps to ensure that shareholders and owners participate in a virtual annual meeting. It can be difficult to take all the measures required by law if you do not have experience with virtual annual meetings. BuildingBoard can take care of everything you need to hold your annual meeting and vote remotely.

Hold Your Delaware 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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