Common interest properties generally hold at least one meeting of members and several board meetings each year. Scheduling association meetings can be frustrating. There never seems to be a consensus on when to meet because of personal schedules and obligations. BuildingBoard has a better way to hold association meetings.
Holding remote meetings allows your members to attend live association meetings at their convenience. BuildingBoard is a simple to use platform that gives your members remote access to meetings. They can listen, ask questions, and vote as if they were physically present. They do not need to download software or apps. All they need is an internet connection and a web browser.
Missing a quorum is frustrating. Members and directors may feel that they wasted their time because the association cannot transact business without a quorum. It can also be costly to reschedule meetings multiple times. When the board faces an urgent matter, you need to address the situation quickly to prevent a larger problem.
Remote access to association meetings can increase attendance, thereby preventing quorum problems.
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.
Most condominium projects are subject to the Louisiana Condominium Act. The law requires the organization of a unit owners’ association no later than the date the condominium is created. The association “shall be” organized as a nonprofit corporation or an unincorporated association.
The unit owners’ association adopts bylaws for the management of the condominiums. The bylaws would govern things like annual meetings, voting, proxies, and quorums.
Most homeowners associations are organized as nonprofit corporations, making them subject to the Louisiana Nonprofit Corporation Act. Provisions of the Nonprofit Corporation Act regarding annual meetings include:
Condos may also be subject to the general provisions of the Louisiana Business Corporation Act, where are discussed in more detail under co-ops.
Co-ops are organized as corporations to own common interest property. The unit owners purchase shares in the co-op for exclusive possession of a specific unit and joint ownership of common areas.
Most co-ops are governed by the Nonprofit Corporation Act so that they would be subject to the above provisions discussed under condos. However, if the co-op is organized as a for-profit corporation, it would be subject to the provisions of the Louisiana Business Corporation Act.
The Corporation Act also requires an annual meeting of the shareholders. Notice of the meeting must be at least ten days before and not more than 60 days before the meeting. Members are entitled to vote by proxy. A quorum is a majority of the votes entitled to be cast on a matter by a voting group. There are additional rules for voting for directors found in §RS 12:1-728.
In addition to the nonprofit and general corporate acts, the Cooperative Housing Cooperation Law also applies to co-ops organized under this specific chapter of the corporations code. Co-ops organized under another chapter may elect to be subject to the co-op chapter.
The co-op statutes take precedence if there is a conflict with other provisions of the title for co-ops subject to the co-op statutes. Voting by stockholders is based on one vote per member or one vote per dwelling unit.
HOAs are subject to the provisions in the Louisiana Homeowners Association Act. The provisions apply to HOAs in existence or created in the future, except that the provisions do not affect the superiority of any provisions in community documents.
Therefore, if the bylaws and other community documents “are silent” on a matter, the provisions of the Act would apply to the HOA. The community documents have the force have law between the HOA and the individual owners.
Under the statute, each lot represents one vote. Votes may be cast by written ballot or at a meeting of the owners. The bylaws generally outline the use of proxies, quorums, notices, and other matters related to the annual meeting.
As with co-ops and condominiums, HOAs are generally organized as nonprofit corporations. As such, the HOA may be subject to the provisions of the Nonprofit Corporations Act discussed above under condominiums. It could also be subject to various provisions of the Louisiana Business Corporation Act.
Under RS 12:1-709, shareholders of any class may participate in any meeting of shareholders by means of remote communication when authorized by the board of directors. Remote participation in meetings is counted as being present. Furthermore, unless the bylaws specify a place for the meeting of shareholders, the board may hold the meeting solely utilizing remote communication.
The members may cast votes remotely if the association has taken reasonable measures to ensure the person is a shareholder and can reasonably participate in the live meeting.
Associations should verify with their legal counsel that they are subject to the Business Corporations Act and that nothing in their bylaws, articles, or other statutes would prevent remote meetings and electronic voting.
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.
Start managing your property board votes on BuildingBoard today.Book a Demo