BOD Meetings

Started by GlennN • 4 replies • 1667 views

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GlennN (Missouri)
Posts: 22

Posted:

Can anyone help? I am the first lien holder on a condo in Missouri and I was wondering if the first lien holder has the right to attend the BOD meetings? Nothing in the by-laws except mentions that I'm able to be a proxy holder and have the right to all records, nothing about who can or can't attend a meeting.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Quote:

Posted By GlennN on 12/09/2014 3:18 PM
Can anyone help? I am the first lien holder on a condo in Missouri and I was wondering if the first lien holder has the right to attend the BOD meetings? Nothing in the by-laws except mentions that I'm able to be a proxy holder and have the right to all records, nothing about who can or can't attend a meeting.

Glenn

I am not nor do I play a lawyer.

I say owners or their appointed proxy or their Power of Attorney can attend meetings and act/participate on their behalf. If you are none (lien holder or not) then I say no you cannot attend and you have no rights to any association records.

If I am wrong it would not be the first time and I doubt it will be the last time....LOL

TimB4 (Tennessee)
Posts: 21,059

Posted:

Glenn,

Even though you hold the note, you are not the owner of the property. You simply have the property as collateral for the note.

Members of an Association are defined as the owner of the property.

Members have certain rights within an Association (which vary from State to State).

As a mortgager, you may have a right to protest an amendment to the deed restrictions (if the governing documents or State law gives you that right). However, in my opinion, you do not have a right to attend any meeting as a mortgager. As a proxy representative, yes. As a mortgager, no.

KerryL1 (California)
Posts: 14,550

Posted:

I'm with JohnC & Tim UNLESS the HOA's governing documents, probably found in the declaration (CC&Rs), state that mortgagers may attend board meetings or meetings of members.

NpS (Pennsylvania)
Posts: 4,216

Posted:

Will the unit owner give you her proxy to attend the meetings on her behalf? If yes, the rights you want could be established by the language in the proxy itself.

The BOD may resist because they are unfamiliar with what is happening. So consult a lawyer.

Sikubali jukumu. Read all posts at your own risk.

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