Most co-operatives (co-ops), homeowners associations (HOAs), and condominium associations have several meetings a year. It can be challenging to coordinate everyone’s schedules to achieve a quorum for the meetings. Are you looking for a better way to hold annual meetings and board meetings? BuildingBoard can help.
BuildingBoard developed a browser-based platform for virtual HOA, co-op, and condominium meetings. Our system allows you to schedule meetings easily, send email invitations, send meeting reminders, and simply electronic voting for your annual meetings and board meetings.
Your members and unit owners can attend the annual meeting from anywhere by using their smartphone, tablet, or computer. They do not need to download an app or software to participate in the live meeting or cast their vote.
Finally, a simple, cost-effective, and convenient way to hold meetings is at your fingertips.
You cannot conduct business when you do not have a quorum at your association meeting, including electing new directors. Therefore, you are forced to reschedule the annual meeting, send new meeting notices, and hope that the rescheduled meeting has a quorum.
Instead of hoping for a quorum, make it easier for your members to attend the meeting. Holding the meetings virtually increases the chance that you meet your quorum.
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 Maryland Condominium Act governs the operation and management of condos throughout the state. Section 11-109 states that meetings of the governing body are open and held at a time and place prescribed by the bylaws or in the notice. Meetings at which the agenda is open to any matter related to the condos must be held at least once each year.
Notices for annual meetings must be provided at least ten days before the scheduled meeting. However, notices may not be sent more than 90 days before the meeting is scheduled.
Unless the bylaws state otherwise, the law states that a quorum is present when 25 percent of the total number of votes for all units are present in person or by proxy. Unless the governing documents prohibit electronic votes, the board of directors may permit unit owners to submit their votes or proxy by electronic transmission.
The Maryland Cooperative Housing Corporation Act governs co-ops. All meetings of the co-operative housing corporation are open to shareholders. The co-op must give shareholders reasonable notice of the meetings.
Section 5-6B-15 makes the provisions of general corporation law applicable to co-operative housing corporations. General corporation law requires annual meetings for the co-op and notice of those meetings for shareholders. In most cases, the bylaws for the co-op set the quorum necessary to conduct business.
The Maryland Homeowners Association Act governs homeowners associations throughout the state. HOAs are required to have annual meetings. All homeowners must be given reasonable notice of regularly scheduled open meetings. Generally, the HOA bylaws set the criteria for annual meetings, voting, and quorums.
The statutes do not address or define electronic attendance or virtual meetings. Therefore, each association needs to review its bylaws to determine if it addresses virtual meetings and electronic voting. Because the issues are not clearly defined in the statutes, it may also be wise to check with your association’s lawyer to discuss whether federal or state law permits boards to hold annual meetings virtually.
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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