If you live in a condo or a co-op, you’ve probably noticed that your building has at least one annual unit owner or shareholder meeting each year.
It’s not random. The annual meeting is actually a Florida state-mandated law that requires cooperative corporations and condominium associations to meet one a year to do their annual public elections. It’s incredibly important that all buildings follow this rule—so that every owner and board member has a say and a vote and can control what happens in their building.
Since the annual meeting is mandated by the state of Florida, there are many rules that have to be upheld, but there are also ways to make it run smoothly and efficiently to avoid conflicts and problems.
The entire purpose of the meeting is to vote for directors, who must be elected at large from amongst the owners—though most of the time, the annual meeting’s agenda also covers building finances, assessments and repair matters.
It’s all written legally in the Florida Statute Section 718.112 (1)(d), which mandates the annual meeting for the unit owners in a condominium association, and Florida Statute Section 719.106(1)(d), which requires an annual meeting of the member of a Florida cooperative association.