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8.31.2016

What Is A Quorum and Why Is It Needed

What is a Quorum and Why is it Important?

 

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. Association Management Solutions understands this costs the association money and creates more work. And, achieving a quorum at a second meeting—if the Association 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. Association Management Solutions, headquartered in great Charlotte, NC includes a proxy with our mailings making it easy for the homeowner to submit their proxy.

 

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. And, when you do attend the meeting, your proxy will be returned to you.

 

Because proxies are so important to achieving a quorum, you may find owners knocking on your door, calling on the phone, or even stopping you in the common areas asking you to sign a proxy form. Your Association works diligently to achieve a quorum and reduce costs. Without it, we can’t do business, and eventually that affects you, the homeowner.


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