Do you have low attendance at your annual meetings? Are you constantly rescheduling meetings and betting members to attend to achieve a quorum? If so, there is a better way to hold annual meetings for community interest developments.
BuildingBoard allows your board to hold virtual annual meetings and electronic voting. Let us show you how easy it can be to hold your annual owners meetings online.
BuildingBoard simplifies board meetings for HOAs, co-ops, and condominiums. Unit owners do not need to download software or learn complicated video and voting systems. Instead, your virtual annual meeting can be accessed from laptops, smartphones, tablets, or desktop computers.
Voting is simple and quick. Never worry about quorum problems again with BuildingBoard’s virtual annual general meetings.
A quorum is the number of people who are eligible to vote that must be present at the annual meeting before business may be conducted. If you do not have a quorum present, you must reschedule the meeting. Rescheduling annual meetings can be time-consuming and costly.
Maine laws allow nonprofits and corporations to hold virtual meetings, making reaching a quorum much easier. First, however, you must check the bylaws for your association to ensure that your bylaws do not prohibit virtual meetings and electronic voting.
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.
The Maine Condominium Act governs condos created after January 1, 1983. Condos created before that date are governed by the Maine Unit Ownership Act.
Section 1603-108 of the Condominium Act requires a meeting of the association at least once per year. Notice of the meetings must be given to the unit owners at least ten days before the meeting, but not more than 60 days before the meeting. Notices must state the place and time of the meeting and the items on the agenda.
Section 1603-109 requires a minimum of 20 percent of the voting unit owners to reach a quorum. The bylaws might adjust the percentage for a quorum, but it cannot lower the percentage for a quorum below 10 percent.
The Maine Unit Ownership Act does not state how often meetings should be called. The law does require that the terms if at least 1/3 of the members expire each year. Section 576 of the Act states that the bylaws must state the method of calling meetings of unit owners and what percentage constitutes a quorum. Members may vote by proxy.
Co-ops may be organized under Title 13, Chapter 85 of the Cooperatives statutes. If so, regular meetings must be held in accordance with the co-op bylaws, but at least once a year. Subchapter 1-A governs cooperative affordable housing.
The bylaws should provide guidance on annual meetings and quorums. However, if the bylaws do not address these subjects, the cooperative statutes dictate annual meetings for co-ops.
Most HOAs are governed by the Maine Nonprofit Corporation Act. According to Section 602, annual meetings of the association are required. The time and place for the meeting are provided in the bylaws or the articles of incorporation. Meetings are held at a place designated in the bylaws. If the bylaws do not designate a meeting place, the meeting is held at the corporation’s registered office.
Written notice of the meeting should be in accordance with the bylaws. Unless otherwise stated in the bylaws, notices of meetings must be delivered to the members within ten days of the meeting date, but not more than 50 days before the meeting date. Notices may be mailed or hand-delivered to the members.
Section 605 states that the bylaws may provide the number or percentage of members that must be present at the meeting to achieve a quorum. If the bylaws do not provide a number or percentage, members holding 1/10 of the votes entitled to be cast on a matter constitute a quorum.
Members may vote by proxy if the bylaws do not prohibit proxy voting.
The Maine Nonprofit Corporation Act states that board meetings may be held by electronic means if the bylaws do not prohibit such meetings. However, it does not make that provision for annual member meetings. Most HOAs are organized as nonprofit corporations.
The co-op statutes nor the condo statutes refer to electronic or remote annual meetings. The bylaws or articles could contain provisions for remote or virtual meetings.
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.
