Iowa

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

Scheduling meetings for homeowners associations can be challenging. Board members are busy, so it isn't easy to coordinate a time that works with everyone's schedules. In addition, it is difficult to get members to take time from their schedules to attend members’ meetings.

What if there was a better way to hold members’ meetings and board meetings?

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Population

3,155,070

Housing Units

1,418,626

Owner Occupied

71.10%

Associations

2,000 - 3,000

Simplify Your Board Meetings in Iowa With BuildingBoard

BuildingBoard has created an easy-to-use virtual platform for members to attend meetings remotely. You can send notices, reminders, and allow members to vote electronically. Your directors and members can participate in live meetings and submit votes without leaving home. There is nothing to download. Our program is internet-based.

Explore the Requirements

Risks of Missing a Quorum in Iowa

When you miss a quorum, you cannot transact business for the community. The members cannot elect new directors or vote on any new business. The board must select a new date for the meeting and send another notice. Unfortunately, there is no guarantee that attendance will improve for the next meeting. 

Remote attendance encourages greater participation in meetings, which means you are less likely to fall short of 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 Horizontal Property Act governs horizontal property regimes that expressly elect to be subject to the Act by filing a Master Deed or Declaration. The bylaws state the method of calling a meeting of the members and what will constitute a quorum, if other than a majority of the members. 

Board meetings must be open to owners. Notice of the board meeting must be given to owners at least seven days before the meeting.

If condominiums are not subject to the Horizontal Property Act, they are probably organized as nonprofit corporations, which are discussed in the next section.

Co-Ops and HOAs

Most homeowners associations are organized as nonprofit corporations. As such, they are subject to the Revised Iowa Nonprofit Corporation Act

A corporation with members shall hold a member meeting at least once per year at a time stated in the bylaws. Notice of the annual meeting must be fair and reasonable. Notice if fair and reasonable if the notice is given no more than 60 days, but at least ten days before the meeting. Notice mailed other than by first-class or registered mail must be given at least 30 days in advance. 

Generally, members are allowed one vote per member. A quorum equals ten percent of the votes to be cast on a matter unless the bylaws or articles provide otherwise. However, unless at least one-third or more of the voting power is present in person or by proxy at an annual meeting, the only matters that may be voted upon are matters described in the meeting notice.

Members may vote by proxy unless otherwise restricted or prohibited by the articles or the bylaws.

Virtual Annual Meetings in Iowa

The Horizontal Property Act does not discuss electronic or remote meetings. 

Section 504.701 of the Nonprofit Corporation Act states that unless the bylaws or articles state that annual meetings are to be held at a geographical location, an annual meeting of members may be held by means of the internet or other electronic communications. Members must be able to participate in the live meeting and vote on matters submitted to the members. 

Section 504.821 of the Nonprofit Corporation Act also permits board meetings to be held by any means of communication by which all board members can participate in the meeting. Additionally, the board may take action without a meeting, except when the bylaw or articles require actions to be taken at meetings instead of by written consents.

Hold Your Iowa 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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