Developer turnover and new Board elections

I live in a relatively new community and have read the by-laws a number of times. We have been told the developer is ready to turn over control the HOA and that they are going to hold new board elections. Some of us just want to make sure that this is done right.

The developer does not own or have any unique obligation to maintain common areas.

1. Do we need to do anything formal to accomplish the developer turnover/surrender at the meeting, other than to record in the minutes that it has happened?
2. For the elections, the Board is going to send out plenty of notice and, ideally, the names of the candidates and even proxy forms. At the meeting/election, how should this be conducted? Should there be a box for ballots? They are usually not anonymous (because we want to make sure we are not allowing more than one person in a household to vote), as I understand it. Should the board count the ballots at the meeting? What if someone tries to vote after the meeting?

Thanks every body!

Info on turn-over (aka Transition):

Best Practices - Transition From foundation for community association research

Transistion Plan an HOA's formalized plan for transition.

Checklist For Transition To Homeowner Control from a legal firm

Checklist for Transition from Developer Control similar but few other things added also from a law firm

Developer/Homeowner Transition: A Guide To Success

Developer Transition in a Community Association

Developertransition.com This website is intended to specifically address the issues facing townhome, condominium, and homeowner associations in North Carolina. [still has good general information as well]

Subject: HOA transition from developer control to homeowner control Thread in HOATalk that discusses having a Transition Study done by an engineering firm.

I've also attached the checklist that is typically provided by many on this site when there is a discussion about transitioning.

Thanks so much!!