Scheduling annual meetings is something that many board members dread. It is a hassle to coordinate schedules hoping that you have enough people for a quorum. Is there a better way to conduct board meetings and annual meetings?
Virtual board meetings and virtual annual meetings can make it much easier to handle association business. At BuildingBoard, we have created an easy-to-use, convenient method for members to attend association meetings.
Because our platform is internet browser-based, there is no need to download apps or software. You and your members can access everything online from any of your mobile devices or computers. Members can attend annual meetings from anywhere and submit their votes electronically.
When you miss a quorum, you cannot conduct business. In addition, you must spend time and money rescheduling the meeting. However, there is a better way to handle this problem.
Virtual meetings encourage attendance, which can avoid missing a quorum. Directors do not need to remain in "limbo" because their terms have expired, but there was not a quorum present to elect new directors.
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.
Kentucky's Horizontal Property Law governs condominiums created before January 1, 2011. The Kentucky Condominium Act governs condominiums formed after January 1, 2011. However, some sections of the Condominium Act may also apply to condominiums created before 2011.
Section 381.9177 of the Condominium Act requires an annual meeting of the association. Notice of the annual meeting must be given at least ten days before the meeting. Notices cannot be sent more than 60 days before the meeting date. Notices must be hand-delivered or mailed by United States prepaid mail. Meeting notices must state the meeting's time, date, and place and items on the agenda.
The association bylaws may set a quorum for meetings. If the bylaws do not set a quorum, the statutory quorum for annual meetings is 10 percent of the votes in person or by proxy. The statutory quorum for a meeting of the executive board is 50 percent of the votes on that board present at the beginning of the meeting.
There are no specific statutes that govern HOAs (homeowners associations) or co-ops in Kentucky. However, most of these associations are organized as nonprofit corporations. Therefore, they are subject to the provisions of the Kentucky Nonprofit Corporation Act.
Section 273.193 requires that the organization holds an annual meeting of members. Unless otherwise provided in the bylaws or other corporate documents, a notice of the annual meeting must be provided to members at least ten days before the meeting date, but not more than 35 days.
The bylaws may state the percentage or number of members entitled to vote in person or by proxy to constitute a quorum at an annual meeting. In the absence of a provision, the statutory quorum for an annual meeting is the presence of one-tenth of the members eligible to cast votes either in person or by proxy.
For condo associations, there does not appear to be a specific statute related to remote annual meetings. Board members can consult their bylaws, organizational instruments, and counsel regarding virtual meetings.
When the board of directors for an HOA or co-op is authorized to determine the place of an annual or special meeting, the board members may direct that the meeting take place solely utilizing remote communication according to §273.195 of the nonprofit statutes. Members appearing remotely may participate in the meeting of members, be deemed present in person, and cast votes.
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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