One of the challenges of being on the board of directors of a homeowners association is scheduling meetings. Unfortunately, everyone has busy schedules, making it impossible to choose a date to hold a board meeting or annual meeting that suits everyone.
BuildingBoard has a solution. We have a better way of holding association meetings.
BuildingBoard is an online platform that allows members and directors to attend meetings remotely. The simple-to-use platform allows members and directors to participate in live meetings and cast their votes simultaneously with other members.
Your members and directors do not need to download apps or software. All they need is to access an internet browser to attend the meeting and vote.
Missing a quorum causes several problems. First, you cannot elect directors or conduct other association business. Second, you have the expense and frustration of scheduling and noticing another meeting. Finally, you have no idea whether you will have a quorum present at the rescheduled meeting. Remote access for meetings encourages more members to attend and participate in the meeting, thereby solving your quorum problem.
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 Uniform Condominium Act governs many of the condominiums in Missouri.
If a condominium complex organizes its association under this Act, the Act requires meetings of the association at least once per year. Notice of the meeting must be given to unit owners at least ten days before the meeting, but not more than 60 days before the meeting date. Notices must include the agenda for the meeting.
The bylaws may provide the quorum for conducting business at an annual meeting. If the bylaws are silent on the subject, the code requires at least twenty percent of the votes required to elect an executive board member to be present in person or by proxy to have a quorum. The quorum for a board meeting is 50 percent of the votes on the board.
Proxy voting is allowed. However, no votes allocated to a unit owned by an association may be cast.
Most condominium associations are organized as nonprofit corporations. Therefore, they are subject to the Missouri Nonprofit Corporation Act, which we discuss in more detail below.
Co-ops are corporations organized to own real estate. The members purchase shares of the corporation, giving them exclusive possession of a specific unit in the cop. Chapter 357 of the Corporations, Associations, and Partnerships Code refers to cooperative companies, including a housing cooperative.
The cooperative statutes state that the shareholders have one vote, regardless of the number of shares they own in the co-op. They may cast their vote by proxy. They may also vote by written absentee vote.
The statutes do not specifically refer to meetings or quorums. However, the bylaws generally set forth those requirements for the co-op.
Most co-op associations are organized as nonprofit corporations. Therefore, they are subject to the Missouri Nonprofit Corporation Act, which we discuss in more detail below.
HOAs do not have a specific statute that they fall under in Missouri. However, since most HOAs are nonprofit corporations, they are subject to the Missouri Nonprofit Corporation Act.
Annual meetings are required of the membership according to the association’s bylaws. If a place is not stated in the bylaws, the annual meetings are held at the corporation’s principal office or another location specified by the board of directors.
Notice of the meeting should be sent to the members at least ten days before the meeting, but not more than 60 days before the meeting date. If the notice is mailed by means other than first-class or registered mail, the minimum notice period is 30 days.
Quorums are fixed by the bylaws. However, if the bylaws do not state a quorum, the law sets a quorum at ten percent of the votes entitled to be cast on a matter. Only matters outlined in the notice of the meeting may be voted upon unless at least one-third or more of the voting power is represented at the meeting in person or by proxy.
Members are allowed to vote by proxy unless restricted or prohibited by the bylaws or articles.
The Condominium Act and the Cooperative Properties statutes do not address virtual or remote meetings. However, §355.376 of the Nonprofit Corporation Act states that board members may attend regular or special meetings by any means of communication. The means of communication must allow the directors to participate in the meeting simultaneously with all other directors.
However, the Act does not explicitly address annual member meetings. Therefore, board members may want to review their bylaws to determine if remote meetings are permissible or check with the association’s legal counsel.
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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