Annual member meetings are required for most common interest properties. However, scheduling annual meetings can be complicated, especially for developments that might have owners throughout the nation. Coordinating schedules can be frustrating.
BuildingBoard makes scheduling and holding annual meetings easy and cost-effective.
BuildingBoard allows you to schedule and hold your annual meeting virtually. Our platform is easy to use and does not require your members to download special software or apps. Members can attend the annual meeting by using any of their internet-enabled electronic devices. All they need is an internet browser.
Missing a quorum for an annual meeting or board meeting is frustrating. You must spend time and money to reschedule the meeting without knowing whether you can reach a quorum the next time.
Virtual meetings encourage more member participation. In addition, because our system allows members to participate and vote at the live annual meeting, it decreases the chance that you will miss a 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 meeting notice must be sent to unit owners at least ten days before the meeting date. Notices must not be sent more than 60 days in advance of the meeting date. Notices may be sent by mail, hand-delivery, electronically, or by other means authorized by the declaration. Notices must contain specific information, including the meeting’s date, time, place, and agenda items.
Unless the association bylaws state otherwise, the quorum for an annual meeting is 20 percent of the votes that may be cast in an election of a board member. The people representing at least 20 percent of the votes may be present in person or by proxy at the beginning of the meeting to reach quorum.
There is not currently a specific statute that governs co-ops and HOAs in Tennessee. However, most of these organizations are incorporated as nonprofit corporations. Therefore, they would be subject to the provisions contained in the Tennessee Nonprofit Corporation Act.
Chapter 57 of the Act governs meeting and voting. Section 48-57-101 requires annual member meetings in accordance with the organization's bylaws. The organization must provide fair and reasonable notice of annual meetings. The meeting notice is considered fair and reasonable if:
Generally, a ten percent quorum must be present at the annual meeting to vote on any matters. However, the bylaws, charter, or other statutes could require a higher or lower quorum. Proxy voting is permitted unless otherwise prohibited by charter or bylaws. Therefore, a member may vote in person or by proxy.
The rules for annual member meetings for condos is attendance at an annual meeting may be in person, by telephone, or by any other means authorized by the association's bylaws.
For HOAs and co-ops, unless prohibited by the bylaws or charter, meetings of the board of directors may be held virtually or by other means of communication. The statute does not refer to annual meetings of the membership. Boards should review their bylaws, articles of incorporation, charters, and other state laws to determine if virtual annual meetings are permitted for their specific organization.
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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