§ 515B.3-109 — Quorums
Plain-Language Summary
Board members are protected from personal liability for decisions made in good faith and with reasonable care, as long as they did not act illegally or for personal benefit.
515B.3-109 QUORUMS.
(a) Unless the bylaws provide otherwise, a quorum is present throughout any meeting of the association if unit owners entitled to cast in excess of 20 percent of the votes in the association are present in person or by proxy at the beginning of the meeting. If a master developer or declarant or their affiliates are members of a master association or an association, as applicable, they shall be deemed to be present for purposes of establishing a quorum at a meeting called pursuant to section 515B.2-121(c)(2) or 515B.3-103(d), as applicable, regardless of their failure to attend the meeting.
(b) Unless the bylaws provide otherwise, a quorum is present throughout any meeting of the board if persons entitled to cast in excess of 50 percent of the votes on that board are present in person at the beginning of the meeting.
History:
1993 c 222 art 3 s 9; 2010 c 267 art 3 s 7
History: History: 1993 c 222 art 3 s 9; 2010 c 267 art 3 s 7