March 17, 2010 marks the day of the annual meeting of the shareholders of Regency Cove. Historically, the Election Committee meets early to begin opening the outer envelopes of the ballots, checking off the names from the shareholder list. The Election Committee will meet in Goodwin Hall at 8 am to begin their formalities. The last call for ballots will be at 10 am.
The Shareholders' meeting is scheduled to begin at that time, depending upon the check-in process for the designated voters.
If any topics are brought up, there may be a vote, if a quorum has been met (203 voters or proxies). Shareholders received the agenda for the meeting in the Second Notice mailout, which was hand-delivered or mailed in early February. Shareholders can discuss
After the shareholders meet, and the results of the election are announced, the directors meet to select the officers. The Agenda for this meeting was also in your Second Notice mailout. Typically the board selects the new officers, and the date of the next board meeting is set. In the recent past, a photograph of the new Board of Directors is taken for the web page. That's usually all that occurrs, but you never know what may come up. Stay tuned. Hope all shareholders are present on Wednesday, or have given their porxy to a friend.
Showing posts with label annual meeting. Show all posts
Showing posts with label annual meeting. Show all posts
Sunday, March 14, 2010
Tuesday, March 9, 2010
What Is An Annual Meeting?
Florida law requires that every cooperative holds at least one membership meeting every year.(1) This is often referred to as the Annual Meeting, or the Members’ Meeting, and may be best known for the Election of the Board of Directors. It requires two specific notices on designated dates, to be mailed out or handed out with signatures of receipt.
The first order of business is to check in the designated voter of each unit or to have a roll call. Due to the size of our park, it was established years ago that all our residents must check in to record the presence of the designated voter of each unit. In the past, the voter received a stick to use to indicate his vote. And then the doors were locked.
It is necessary to establish a quorum before any business begins. A quorum is one half of the number of shareholders plus one.
If a resident can’t make the meeting, he can assign someone to vote for him by filling out a proxy and naming the individual. You received a proxy and a proxy envelope with your ballot in the last notice you received.
Last year at the annual meeting at Regency Cove, we had 124 shareholders or proxies represented, but we needed 201 to conduct a business meeting. There was, therefore, no business conducted last year.
It is customary for the president to run the meeting. This is, however, truly the meeting where the shareholders can run the meeting. The board of directors has no more power than any resident present at the Annual Meeting. (2)
A vote of the membership is required to make certain changes. Any amendment to the By-Laws must be done with a 2/3 vote of the membership. Other changes require half of the membership plus one. This year that constitutes 203 votes.
This year we have no business planned for the meeting that will require a vote from the membership. It is still a good idea to send in your proxy, because you never know what may come up. If you are not going to be present, please fill out your proxy and give it to your assigned representative to bring to the meeting, so that your vote will count. If you designate the Board secretary, mail or bring the proxy to the Office.
“A membership meeting provides the opportunity for the membership to make certain decisions that only they are allowed to make.” (3) These include amendments to our documents, considerations of material alterations or capital expenditures, or allocations to our reserves.
Any shareholder can bring up a topic of business for consideration by the membership. Voting is done just like at a board meeting, by raising a hand or your voting stick, or by voice. There is no secret voting allowed, everyone should know how their neighbor is voting.
At times some controversial issues may arise and cause considerable debate. A good chairman will keep the meeting organized and everyone on topic. This is your time to voice your suggestions and complaints. Make them matter.
Sources:
1. 719.106(1)(d)1, F.S.
2. Poliakoff, Gary and Poliakoff, Ryan, New Neighborhoods, The Consumer’s Guide to Condo, Co-op and HOA Living, Emerald Book Co. Austin TX, 2009, Pg 127
3. Ibid.
Additional source: Dunbar, Peter M., Resident Owned Communities Guide for Florida Cooperatives, Aras Publishing Co. Tallahassee, 1998
The first order of business is to check in the designated voter of each unit or to have a roll call. Due to the size of our park, it was established years ago that all our residents must check in to record the presence of the designated voter of each unit. In the past, the voter received a stick to use to indicate his vote. And then the doors were locked.
It is necessary to establish a quorum before any business begins. A quorum is one half of the number of shareholders plus one.
If a resident can’t make the meeting, he can assign someone to vote for him by filling out a proxy and naming the individual. You received a proxy and a proxy envelope with your ballot in the last notice you received.
Last year at the annual meeting at Regency Cove, we had 124 shareholders or proxies represented, but we needed 201 to conduct a business meeting. There was, therefore, no business conducted last year.
It is customary for the president to run the meeting. This is, however, truly the meeting where the shareholders can run the meeting. The board of directors has no more power than any resident present at the Annual Meeting. (2)
A vote of the membership is required to make certain changes. Any amendment to the By-Laws must be done with a 2/3 vote of the membership. Other changes require half of the membership plus one. This year that constitutes 203 votes.
This year we have no business planned for the meeting that will require a vote from the membership. It is still a good idea to send in your proxy, because you never know what may come up. If you are not going to be present, please fill out your proxy and give it to your assigned representative to bring to the meeting, so that your vote will count. If you designate the Board secretary, mail or bring the proxy to the Office.
“A membership meeting provides the opportunity for the membership to make certain decisions that only they are allowed to make.” (3) These include amendments to our documents, considerations of material alterations or capital expenditures, or allocations to our reserves.
Any shareholder can bring up a topic of business for consideration by the membership. Voting is done just like at a board meeting, by raising a hand or your voting stick, or by voice. There is no secret voting allowed, everyone should know how their neighbor is voting.
At times some controversial issues may arise and cause considerable debate. A good chairman will keep the meeting organized and everyone on topic. This is your time to voice your suggestions and complaints. Make them matter.
Sources:
1. 719.106(1)(d)1, F.S.
2. Poliakoff, Gary and Poliakoff, Ryan, New Neighborhoods, The Consumer’s Guide to Condo, Co-op and HOA Living, Emerald Book Co. Austin TX, 2009, Pg 127
3. Ibid.
Additional source: Dunbar, Peter M., Resident Owned Communities Guide for Florida Cooperatives, Aras Publishing Co. Tallahassee, 1998
Tuesday, March 17, 2009
Annual Members' Meeting Today
On Wednesday, March 18, 2009 at 10:00 am, at the Regency Cove Clubhouse, the Annual Meeting of the Association will be held for the purpose of electing directors and other items of business. Ballots will be called for early in the meeting, and none will be accepted after that.
Proxies must be handed in before the beginning of the meeting.
A quorum of all members must be present or represented by proxy in order for any business to be conducted, excluding the election of directors. See you there.
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