Annual Meeting
According to Article III of the Bylaws of Somerset Property Owners Association:
Section 1. Annual Meetings. The annual meeting of the Association shall be held on or before the second Monday in February of each year at such place as may be determined by the members of the Board of Directors.
Section 2. Special Meetings. Special meetings of the Board of Directors or the members of the corporation shall be called by the President on written request made by the Board of Directors or on written demand by at least 10% of the owners of the Lots. The President shall determine the date, time and place of the meeting.
Section 3. Notice of Meetings. All notices for the annual meeting and for any special meetings shall be in writing and shall be mailed to each of the members of the corporation at their last known mailing address by ordinary mail, postage prepaid, at least thirty (30) days and no more than sixty (60) days prior to the date fixed for the meeting. Such notice shall include an agenda for the meeting of the membership, annual or special."
Section 4. Quorum. A quorum shall consist of sixty percent (60%) of the votes of each class of membership. If the required quorum is not present, another meeting may be called subject to the same notice requirement and the required quorum at the subsequent meeting shall be one-half of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
Section 5. Proxies. At all meetings of the members, each member may vote in person or by proxy. All proxies shall be in writing and filed with the Secretary. Every proxy shall be revocable and shall automatically cease on conveyance of a Lot by the member.
What do we need from Association Members?
- Read the details in the Annual Meeting Announcement.
- Sign and return the Proxy by the required date. or
- Attend the Annual Meeting on the determined date.
Statistics
In order to approve the budget, conduct a valid election, and approve any motions put forward at this annual meeting, a quorum of 60% of the eligible association members must be represented in person or by proxy.
We currently have approximately 500 association members. 60% quorum requires at least 300 members present physically or by proxy. Typical response for the first annual meeting attempt is approximately 100 members or less.
The second attempt for our annual meeting only requires a 30% quorum (151 members) which we have reached each year after mailing another notice costing the association an additional $350 or more. Please respond to the first notice to prevent undue expense to the association.
Actual Number of Votes 2013 Meeting Attempts:
January 15, 2013 First Annual Meeting Attempt
61 in-person/proxy votes received (12% quorum) — 60% quorum required
March 5, 2013 Second Annual Meeting Attempt
181.5 in-person/proxy votes received (36% quorum) — 30% quorum required
Continuous Proxy Option
To assist with reaching quorum for our first meeting attempt, the Board added a continuous or “standing” option to the proxy starting in 2014. Please attend the annual meeting to override your proxy and to discuss any questions or concerns.
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