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Posted By DonnaS on 01/21/2009 6:05 AM
GEORGE!!!
This is the only reference that the 617:0721 (3) has regarding Proxy use. It is from Florida Not For Profit Corp. Statutes, of which all Fl. HOAS and CONDOS are registered under.
WOULD YOU PLEASE INTERPRET THIS FOR US?
(3) If any corporation, whether for profit or not for profit, is a member of a corporation organized under this act, the chair of the board, president, any vice president, the secretary, or the treasurer of the member corporation, and any such officer or cashier or trust officer of a banking or trust corporation holding such membership, and any like officer of a foreign corporation whether for profit or not for profit, holding membership in a domestic corporation, shall be deemed by the corporation in which membership is held to have the authority to vote on behalf of the member corporation and to execute proxies and written waivers and consents in relation thereto, unless, before a vote is taken or a waiver or consent is acted upon, it is made to appear by a certified copy of the bylaws or resolution of the board of directors or executive committee of the member corporation that such authority does not exist or is vested in some other officer or person. In the absence of such certification, a person executing any such proxies, waivers, or consents or presenting himself or herself at a meeting as one of such officers of a corporate member shall be, for the purposes of this section, conclusively deemed to be duly elected, qualified, and acting as such officer and to be fully authorized. In the case of conflicting representation, the corporate member shall be deemed to be represented by its senior officer, in the order first stated in this subsection.
My interpretation: this is poorly written law, probably written by a lawyer with the express purpose of making it so difficult to understand that one must engage a lawyer to interpret it. Since I have no legal standing in the court system of Florida, nor a particular expertise on Florida statues my opinion is entirely uninformed and personal, meaning it should not be relied upon for any purpose whatsoever.
Nevertheless, as I read this it merely states which corporate officials are authorized to execute a proxy on behalf of the voting corporation.
Further, it deems a proxy signed by a corporate officer to be valid unless there is proper documentation to the contrary.
And should a person show up at a meeting purporting to represent the corporation, the organization holding the meeting can rely upon that assertion for purposes of the meeting without independent verification.