Three Year Proxy
Posted By jsheehan on September 8, 2021
Dear Cantebria at the Corona Ranch Homeowner:
Normally, homeowners associations only have one (1) meeting of the membership each year. This meeting is not the recurring business meeting of the Board of Directors, which homeowners have limited participation in, but rather the Annual Meeting of the Membership in which homeowner participation is required for business to be conducted. The minimum quorum requirement for the Cantebria at the Corona Ranch community is 50% of your 104 homeowners.
California Corporations Code mandates that this meeting be held. If a quorum is not reached, your Board of Directors must continue to attempt to hold Adjourned Sessions of the meeting until the proper quorum is met and business can be conducted. To reach quorum for an Adjourned Meeting of the Cantebria at the Corona Ranch membership, the requirement drops to only 25% of your 104 homeowners.
Each of these additional meetings also costs the Association money not previously budgeted for. These charges cover any additional mailings, notices, and the fee for holding a special meeting. Because Corporations Code requires that Adjourned Meetings must be attempted a maximum of every 30-days following the initial meeting, these costs can quickly add up.
For this reason, your current Board of Directors would like to offer you an option that would cover a longer period of time than the normal proxy. Under California Law, members of corporations can give their consent for membership meetings to be held for a term of up to three (3) years unless prohibited by the corporation’s By Laws. Yours do not prohibit the use of such a proxy. Signing the 3-Year Proxy would be giving your consent to allow any meetings of the membership to be held through the proxy’s expiration date. Please consider this option to help save your Association money and keep assessments down. You can find this document on the resident portal or can email your manager for the document.
Thank you for taking an active, positive interest in your community!