Illinois Annual General Meeting Requirements for Condos

 

Condominium and common interest community properties in Illinois are required by state law to hold annual meetings at least once per year. Arbor Grove Homeowner’s Association is technically a common interest community. The Illinois Condominium Property Act (ICPA) governs the rules and regulations pertaining to how HOAs manage and run their communities, which includes stipulating minimum meeting frequency requirements. In addition to holding an annual meeting for all members, condo association boards in Illinois are required to meet three times per year.

 

 

Annual meetings are an opportunity for the entire association to be informed about key HOA matters. This, at a minimum, includes the following agenda items:

• • A presentation of the association’s financial statements and annual budget
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  • An update on current and future project plans
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  • A discussion of any other matters that require unit owner input
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  • Voting on new board members and any other issues that require owner votes

For some associations, a quorum of members must be in attendance to vote for members of the board. Arbor Grove’s governing documents permit electronic voting, enabling all owners to cast their votes more conveniently. A quorum is met by the number of electronic votes. Arbor Grove unit co-owners must select one owner to vote on behalf of the unit; only one vote is allowed per unit, resulting in 92 votes in our case.

 

Prior to the annual meeting, adequate notice must be given to all members. According to the ICPA, notice of any membership meeting must be given at least 10 days and no more than 30 days before the meeting, detailing the time, place, and purpose of the meeting.

 

Another reminder: residents who are not unit owners cannot be given an invitation or electronic link to attend meetings, nor do they have access to that information. Voting, access to financial information, and meeting minutes are only available to owners.

 

With this information in mind, now is an ideal time to consider running for a position on the board. Notices will be posted on the website, inviting all owners to submit a request to be included on the ballot. So, think about it – and consider a run for the board.