- Meeting of co-owners : President of the meeting
Definition : Meeting of co-owners - President of the meeting
A meeting officer, generally elected by the meeting of the co-owners, whose mission, in particular, is to certify the attendance sheet, ascertain quorum, direct the discussions, insure that the votes proceed and sign the minutes.
WARNING! One must not confuse the office of president of the meeting with the office of president of the Board of Directors. They are two different offices.
The appointment of general meeting officers is a necessity for holding any general meeting of co-owners. The range of titles and offices of general meeting officers is diversified: president, vice-president, meeting secretary, and possibly scrutineer. Like any other person, general meeting officers may engage their personal liability if they do not observe a duty of care and diligence in the performance of their duties. They are - whether remunerated or not- therefore exposed to legal proceedings in the event of a breach of their obligations. Depending on the circumstances, this could be the case, for example, if the president of the meeting takes a wrongful decision during the course of the meeting, and that his decision causes a prejudice to one or more co-owners.
The General Meeting of the co-owners is one of the two decision-making bodies of the syndicate. You should be aware that co-ownership life implies that the co-owners or their representatives meet, occasionally, to discuss and vote upon important decisions. This occurs at General Meetings of the co-owners, which is the prime democratic body in the co-ownership. Their conduct obeys certain rules of form and content. An overview of the various specific aspects of General Meetings of the co-owners.
Calling a meeting of co-owners to order requires the prior preparation of an attendance sheet. It allows calculating quorum, establishing material evidence confirming the presence of co-owners or their representative (proxy), and controlling the legality of the vote.
Decisions taken by co-owners in a general meeting must be recorded and entered in the minutes. This document is essential for a co-ownership because it ensures the written preservation of the deliberations or consultation of the general meeting, as well as the result of each vote so that any co-owner and director can refer to it in due course. It also allows to ascertain that the general meeting was conducted in accordance with the rules. Given its importance, this document must respect a certain formalism.
The resolutions of the General Meeting of the co-owners are adopted or rejected, as the case may be, if a majority is reached or not. Depending on the repercussions such resolutions may have on the co-ownership, the majority required will be more or less difficult to achieve. The General Meeting of the co-owners adjudicates at two different majority levels: absolute majority and double majorities (enhanced majorities).
Our last annual general meeting of the co-owners was opened and held by our directors. The trouble is that we do not know how to conduct an assembly.
Question: Is a President of the meeting required? Do non-directors have to make notes? And who draws up the minutes?
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The appointment of meeting officers is necessary for holding any co-owners meeting. The latter are usually elected at the outset of the meeting, by a separate vote taken by the majority of the votes of the owners present or represented.