Choosing a date for the annual general meeting for your association can be challenging. You never know whether you will have enough members attend to hold votes and transact business. Board meetings can be just as difficult as you attempt to coordinate numerous schedules.
Do you want a better way to hold association meetings? BuildingBoard has the solution.
BuildingBoard is a remote meeting platform that allows members to attend live meetings and vote electronically. Members can participate in the meetings from any location. All they need is an internet browser. BuildingBoard does not require you to download software or apps to join the live meeting.
Missing a quorum at a board meeting or an annual meeting means you cannot conduct any business that requires a vote. In addition, the board must choose a new date for the meeting and send notice of the new meeting. It is time-consuming and costly. All of the effort is wasted if you do not have a quorum at the rescheduled meeting.
Allowing members to attend meetings remotely solves your problem. Remote access to members’ meetings generally increases participation.
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.
Condominiums may be established under Chapter 43-15A of the South Dakota Codified Laws. However, the statutes do not define the association or council of co-owners. Many homeowners associations are organized as nonprofit corporations. Therefore, they would be subject to the provisions of the Nonprofit Corporations Act described below in the HOA section.
Cooperatives may be organized under Chapters 47-16 of the South Dakota Codified Laws. If so, they are subject to the provisions within the code for annual meetings.
Meetings of the members are held annually as provided by the bylaws. If the bylaws do not call for an annual meeting, the meeting is held within six months after the close of the fiscal year. Written notice of annual meetings must be given at least ten days before, but not more than 60 days before the meeting date.
A quorum at an annual member meeting is ten percent of the first one hundred members plus five percent of additional members present or represented by a delegate. The quorum will never be less than five members or a majority of members (whichever is less) nor more than 50 members unless the bylaws state otherwise.
Members of the cooperate may vote by mail or electronic means. However, the member must have been notified in writing of the matter upon which the vote is taken. Voting by proxy is not allowed in any cooperative. However, the bylaws may provide for delegates to represent members.
Homeowners associations are generally organized as nonprofit corporations. Therefore, they are subject to the provision of the Nonprofit Corporation Act.
According to the code, annual meetings of members are held in accordance with the bylaws. The bylaws may provide that the annual meeting be held by electronic communication that allows members to participate and vote in the live meeting.
Before the meeting date, written notice of the annual meeting must be given to members at least ten days, but not more than 50 days. The bylaws may provide for different notice requirements.
Each member is entitled to one vote unless limited, denied, or enlarged by the bylaws or articles. Members may vote in person or by proxy if allowed by the bylaws or articles. Voting by ballot is also allowed provided that ballots conform to the requirements in §47-23-9.
Section 47-16-5 of the Cooperatives statutes states that the annual meeting may be virtual if the written meeting notice provides a means of communication that complies with §47-16-4. Members must be able to communicate and vote during the live meeting. Remote participation counts as being present for the meeting.
For homeowners associations organized as nonprofit corporations, §47-23-3 states the meetings of members may be held electronically as provided in the organization's bylaws. Absence such provision, meetings are held at the corporation's registered office unless a special meeting is called and held according to §47-23-5.
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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