Paul Mitassov Law
Condominiums typically hold Annual General Meetings (AGMs), where the past year’s financial reports are presented, upcoming projects are discussed, and new directors are voted in. Often, additional votes are taken at an AGM, including votes on special projects (such as major repairs or improvements).
In addition to the AGM, other meetings of unit owners are possible throughout the year – there may be various special meetings to vote on urgent issues, and requisitioned meetings where some unit owners wish to overrule a Board of Directors decision and/or replace the Board entirely. Requisitioned meetings are particularly important – as their very existence demonstrates strong disagreements in the condominium. The outcome of a requisitioned meeting can be very important to all unit owners.
AGMs and special meetings are governed in part by the condominium’s declaration and by-laws. Typically, only the unit owners have the right to attend and vote; renters typically have no such rights.
Votes conducted at any meeting are very important – the existing Board will want to ensure that its decisions and recommendations are upheld and approved, while any dissenters will want to challenge the same and convince other unit owners to support such dissent. Many individuals may run for the Board, and the ones elected will have a major effect on the future of the condominium.
The parties participating in an important condominium meeting should get legal advice to assist them in this important and complicated process. Our legal professionals are experienced in condominium meetings and voting – call us today to see how we can assist you!
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