Common interest properties are generally required to hold annual meetings. These annual meetings are opened to all members of the associations, which are generally the homeowners. Unfortunately, attendance at homeowners association meetings may fall short of the quorum required to conduct business.
Fortunately, BuildingBoard has developed a better way for boards to hold their annual meetings.
With BuildingBoard, you can hold your annual meeting virtually, including electronic voting. Our easy-to-use platform does not require your members to download apps or software.
Members can easily join the live annual meeting and submit their votes from home, work, or any location. Our system is browser-based, so any device with an internet browser can connect members to the meeting.
Missing a quorum can be costly. The board must reschedule the annual meeting, send new notices, and hope a quorum is present. When you hold your annual meeting remotely, you increase the chance that more members will attend because they can do so without being at the meeting personally.
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.
Section 36B-3-108 of the Common Interest Ownership Act requires that associations hold an annual meeting each year. Special meetings may be held as necessary. At least ten days before the meeting, but not more than 60 days in advance, a meeting notice must be mailed or hand-delivered to the unit owners. The notice must include the date, time, and place of the meeting, along with the agenda.
For condominiums organized under the Unit Property Act, the Code of Regulations states the method for calling meetings. Associations organized as nonprofits are also required to hold annual meetings with the same notice requirements provided by the Common Interest Ownership Act.
The Common Interest Ownership Act requires at least 20 percent of the votes that may be cast to be present in person or by proxy at the beginning of the meeting to reach a quorum. However, the bylaws may provide a different percentage for a quorum.
Any owner of a unit is permitted to cast all the votes for that unit at a meeting. Proxy voting is permitted under the Common Interest Ownership Act. Each unit owner may cast votes or protest the casting of votes by written proxy. Proxies terminate in one year from the date of the proxy unless a shorter term is specified in the proxy.
Units that the association owns cannot cast the votes allocated to that unit.
Section 31E-7-708 of the Nonprofit Corporation Act states that a member may participate in a meeting of the members by remote communication to the extent that the board of directors authorizes remote participation. Remote participation in annual meetings is subject to the procedures and guidelines adopted by the board of directors.
Members participating by remote communication are considered present and may vote at the meeting. Proxies may attend for members by remote communication. Members participating by remote communication must be given a reasonable opportunity to participate in the meeting.
Unless the bylaws or articles of incorporation prohibit it, the board of directors may direct that the meeting of members be held entirely by remote communication.
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.
