New Mexico

New Mexico Annual General Meeting Requirements for Condos, Co-Ops, and HOAs

Do you find it difficult to coordinate schedules when choosing a date for board meetings and annual meetings? If so, you are not alone. Scheduling and holding annual meetings for homeowners associations is frustrating for many board members. BuildingBoard has developed a better way to hold association meetings that benefits everyone.

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Population

2,096,829

Housing Units

948,473

Owner Occupied

67.70%

Associations

1,000 - 2,000

Simplify Your Board Meetings in New Mexico With BuildingBoard

BuildingBoard's remote platform is simple to use. Your members do not need to download apps or software. They only need to go to the website and join the live meeting. Then, members and directors can participate in the live meeting and submit their votes with the other members.

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Risks of Missing a Quorum in New Mexico

Missing a quorum can create several issues for the association. First, the meeting must be rescheduled. Time and money are spent sending notices of the new meeting to members. Second, association business cannot be conducted without a quorum. Essential matters may need to be postponed. 

Allowing members to attend remotely could resolve the problem. When members do not need to attend in person, they are more likely to participate in the annual meeting. More members in attendance mean you can meet quorum.

Annual General Meeting Requirements

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.

Condos

The New Mexico Condominium Act applies to all condominiums created in the state as of the Act's effective date. An annual meeting of the association is required by statute. Notice of the meeting is given at least ten days before, but not more than 60 days before, the meeting date. The notice states the time and place of the meeting and the items on the agenda.

By statute, the quorum for an annual meeting is 20 percent of the votes that may be cast to elect an executive board. The votes may be represented in person or by proxy. The quorum for an executive board meeting is 50 percent of the votes on the board.

Votes for a unit may be cast by proxy. However, votes for units owned by the association may not be cast.

Co-Ops

A cooperative may choose to incorporate under the New Mexico Cooperative Association Act. Meetings of members shall be held according to the bylaws, but at least once per year. Notice of the meeting is sent to the member's last-known address as prescribed by the bylaws.

The bylaws state the number or percentage of members for a quorum. Members of the association have one vote. Votes are not permitted to be cast by proxy. However, the bylaws may provide for voting by mail and holding meetings by units.

HOAs

The New Mexico Homeowner Association Act applies to all homeowner associations created within the state. However, it does not apply to condominiums governed by the Condominium Act. In addition, some sections do not apply to HOAs created before July 1, 2013, that have fewer than 30 lots. 

The association is required to hold an annual meeting at least once every 13 months. Notice of the meeting should be delivered at least ten days before the meeting date, but no more than 50 days before the meeting.

Votes may be cast in person, by proxy, or by absentee ballot. In addition, the association may provide for voting by other forms of delivery.

Virtual Annual Meetings in New Mexico

The statutes related to annual meetings of homeowners associations do not define remote meetings or the use of electronic devices to attend meetings.

However, §53-8-22 of the Nonprofit Corporation Act states that the board of directors and committee members may participate in a meeting utilizing a conference call or similar communications. The member must be able to participate fully in the live meeting. 

Associations can refer to their bylaws, articles, and legal counsel to determine if they may hold remote meetings or allow members to attend by remote communication.

Hold Your New Mexico Annual Board Meetings Virtually with BuildingBoard

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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