A quorum is the minimum number of owners who must be at a meeting before business can be transacted. State law tells us what that minimum number is for our association. It’s relatively low, but we still have a tough time getting to it. It’s a common problem in many associations.
Meetings that don’t have a quorum must be adjourned and
rescheduled at a later date. This costs the association money and creates more
work. And, achieving a quorum at a second meeting—if we couldn’t get one the
first time—is even harder.
So, why bother to try again? Because the board is legally
obligated to conduct an annual meeting. It’s an important part of conducting
association business. During the annual meeting, new board members are elected
and the coming year’s budget is presented to the homeowners for approval. No
quorum—no election, no budget. This means the current directors will have to
continue serving until an election can be conducted. It also means that last
year’s budget will remain in effect until a valid meeting (one with a quorum)
can be held to approve a new budget.
Good news! You can be “at” a meeting and across the country at the same time by signing a proxy! That’s
how you assign your vote, in writing, to another person. Proxies count toward
the quorum, so they’re very important to the association.
We ask you to complete a proxy form, even if you plan to
attend the meeting. That’s just in case something comes up that prevents you
from attending.
Because proxies are so important to achieving a quorum,
you may find us knocking on your door, calling on the phone, or even stopping
you in the common areas asking you to sign a proxy form. We’ll do anything to
achieve a quorum. Without it, we can’t do business, and eventually that affects
you, the homeowner.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.