There are only two mandatory meetings the associations are required to hold. The annual members meeting and a budget meeting of the board of directors. The Annual is a meeting for the members while the budget meeting is a board meeting intended to validate a fiscal budget.
Annual meetings are held for the purpose of any business that comes before the members and for the election of directors, if necessary. If there were a lack of interest to run for the board, there would be no election at the annual meeting. The remaining officers at the time of the annual meeting will automatically return or shift to directors and would appoint volunteers to fill board vacancies. If there were no interest to fill board vacancies to constitute a quorum, beware. See, “The Consequences of not having a Board Sufficient to Constitute a Quorum”.
If not provided for in the governing bylaws, the minimun Florida Statute quorum requirement of members at an annual meeting is 30% of the voting interest. Many homeowner documents require a 33% to constitute a quorum. A lower number of quorum requirement in the community documents, supersedes the Florida Statute, see 720.306 on the next page.
A quorum of an annual meeting can be in person or by proxy. Decisions requiring a members vote, such as a roll over or a waiver of financial reporting are carried by a majority vote of members present. Unless otherwise stated in the governing articles of incorporation’s or bylaws, amendment of governing documents requires a 2/3% vote of the total voting interest.
Unless otherwise provided for in the governing documents, changes of the total voting interest due to appurtenances or addition of property, requires a 100% members vote. For more fun facts see, “Sale and Lease Transfer Fee’s for Condominium and Homeowner Associations”. To review supporting documents, click here.
720.306 Meetings of members; voting and election procedures; amendments.–
(1) QUORUM; AMENDMENTS.–
(a) Unless a lower number is provided in the bylaws, the percentage of voting interests required to constitute a quorum at a meeting of the members shall be 30 percent of the total voting interests. Unless otherwise provided in this chapter or in the articles of incorporation or bylaws, decisions that require a vote of the members must be made by the concurrence of at least a majority of the voting interests present, in person or by proxy, at a meeting at which a quorum has been attained.
(b) Unless otherwise provided in the governing documents or required by law, and other than those matters set forth in paragraph (c), any governing document of an association may be amended by the affirmative vote of two-thirds of the voting interests of the association.
(c) Unless otherwise provided in the governing documents as originally recorded or permitted by this chapter or chapter 617, an amendment may not materially and adversely alter the proportionate voting interest appurtenant to a parcel or increase the proportion or percentage by which a parcel shares in the common expenses of the association unless the record parcel owner and all record owners of liens on the parcels join in the execution of the amendment. For purposes of this section, a change in quorum requirements is not an alteration of voting interests. The merger or consolidation of one or more associations under a plan of merger or consolidation under chapter 607 or chapter 617 shall not be considered a material or adverse alteration of the proportionate voting interest appurtenant to a parcel.
(2) ANNUAL MEETING.–The association shall hold a meeting of its members annually for the transaction of any and all proper business at a time, date, and place stated in, or fixed in accordance with, the bylaws. The election of directors, if one is required to be held, must be held at, or in conjunction with, the annual meeting or as provided in the governing documents.