- Meeting of co-owners : Annual Meeting
Definition : Meeting of co-owners - Annual Meeting
Meeting of the co-owners that takes place once a year. It is convened each year by the Board of Directors, or under its instructions, within six months of the financial year end. However the declarations of co-ownership often shorten that period to 90 days. Also, be aware that the first annual general meeting must be held within six months after the syndicate of co-ownership is constituted.
Les assemblées de copropriétaires virtuelles sont en plein essor. La crise du coronavirus (COVID-19) en a fait découvrir les nombreux avantages à syndicats de copropriétaires. Selon toute vraisemblance, elles sont définitivement là pour rester.
The General Meeting of the co-owners is one of the two decision-making bodies of the syndicate. It must be held at least once a year, but it can take place as often as necessary. 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.
The COVID-19 health crisis and its procession of government restrictions to limit gatherings have often made it impossible to regroup. The legislator was forced to organize the rescue of legal persons, banned from assemblies, to preserve, at least for a time, their functioning. The syndicates of co-owners have thus adopted alternatives to face-to-face meetings of co-owners. Social distancing obliges, COVID-19 has given rise to a phenomenon in co-ownership: virtual meetings of co-owners, also called remote meetings. In order to perpetuate this way of doing things, the law now authorizes syndicates of co-owners to hold meetings by technological means.
A General Meeting of the co-owners cannot take place without an agenda. To deliberate in accordance with the Law, co-owners should be able to become aware, before the General Meeting, of the questions on the agenda. This the reason why it should be annexed to the notice of call, usually prepared by the Board of Directors (Board). It contains all the questions to be tabled for deliberation during the General Meeting. This document must be clear and unambiguous to avoid legal challenges. An overview of the various specificities of the agenda.
Whatever the type of building they have chosen, all co-owners, without exception, are called upon to participate in meetings of co-owners. Thus they can vote on the questions on the agenda, and take various decisions necessary for the sound operation of the co-ownership. The co-owners are called upon to meet periodically for questions dealing with current administration, maintenance and operation of the syndicate, and sometimes exceptionally for specific questions required by the circumstances. This factsheet is an overview of the various types of Meetings that may be held in a co-ownership.
The resolutions of the General Meeting of the co-owners require complex calculations in order to determine whether a the required majority has been reached. To do so, you must make sure that the register of co-owners is up to date, and that the compilation of votes is done according to the relative value specific to each fraction. This reduces the risk of contestation of an adopted resolution. That said, some decisions have extremely important consequences for all co-owners so the requirements in terms of majorities are then higher. For this reason, the law imposes three levels of majority: absolute, enhanced and double majority, depending on the importance of the decision to be taken.
A question often arises whether a co-owner can modify the agenda received with his notice of call to the Annual General Meeting, either before or during the General Meeting?
The General Meeting of co-owners is governed by strict legal rules that you should know about. In principle the General Meeting deliberates only on the questions inscribed on the agenda before holding the General Meeting. Otherwise, any decision taken upon a question illegally placed on the agenda is null and void and may be subject to a legal challenge.
Our co-ownership consists of a small building. We have only 3 units. We don't really need to meet this year because nothing interesting is to report and anyway we talk regularly in front of the building. Everything is going well. We will have a general assembly later, perhaps early next year. Question: Is it possible not to hold a meeting for several years?
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