JenniferD8 (Michigan)
Posts: 141
Posts: 141
Posted:
Hi Everyone -- my condo HOA board is currently comprised of 7 members. The annual meeting is taking place in 2 months. The August board meeting minutes were posted yesterday and it stated that the board voted unanimously to reduce the board from 7 members to 5. I've listed a snippet of the Articles of Incorporation pertaining to board size. From my interpretation, it appears that they can't do this. Thoughts?
The business, property and affairs of the corporation shall be managed by a board of directors composed of not less than 3 nor more than 9 members. The number of persons comprising each subsequent board shall be determined by vote of the members prior ti the establishment of each such board; provided, however, thatif a motion is not made and carried to increase or decrease the number of directors, then the board shall consist of the same number of persons as therefore comprised the full board of directors. In addition, the members may, by resolution duly made and passed, provide that in lieu of annually electing all directors, the directors shall be divided into 2 or 3vclasses, each to be as nearly equal in numbers as possible . . .
The business, property and affairs of the corporation shall be managed by a board of directors composed of not less than 3 nor more than 9 members. The number of persons comprising each subsequent board shall be determined by vote of the members prior ti the establishment of each such board; provided, however, thatif a motion is not made and carried to increase or decrease the number of directors, then the board shall consist of the same number of persons as therefore comprised the full board of directors. In addition, the members may, by resolution duly made and passed, provide that in lieu of annually electing all directors, the directors shall be divided into 2 or 3vclasses, each to be as nearly equal in numbers as possible . . .