What is the purpose of a co-ownership General Assembly?
The general assembly is one of the key points in the good functioning of co-ownerships in Quebec.
Indeed, it brings together the co-owners, the syndicate of co-owners, the managers and other stakeholders in the co-ownership in order to discuss certain important subjects in regards to the management of the building and to make the associated decisions.
So, what is its purpose and what are the topics covered?
The general assembly is the mandatory annual meeting of all the co-owners (AGA or Annual General Assembly), but it can take place more than once a year. It has decision-making power, but also legal obligations, in particular the drafting of the Minutes (transcription of all the decisions taken during the GA).
On the agenda you can find:
- Election of directors: The co-owners elect the members of the board of directors of the co-ownership who are responsible for the day-to-day management of the building.
- Approval of the budget: The general meeting approves the annual budget of the co-ownership, which determines the expenses to be expected for the coming year.
- Voting of resolutions: The co-owners can propose and vote on resolutions concerning the management of the co-ownership, such as the approval of major renovations or changes of regulations.
- Discussion of topics of common interest: The general meeting is also an opportunity for co-owners to discuss topics of common interest such as co-ownership regulations, security concerns, and other important topics.
Each decision must be made by voting (each co-owner has a number of votes corresponding to his share of the common areas), so it is crucial as a co-owner to attend in order to be able to vote on the decisions that concern you in the co-ownership (the invitations will be sent, and for more information, consult the convocation process during the GA right here!).
Recently, you can even attend your GA remotely via general assembly dematerialization tools such as agconnect! The in-person and hybrid mode, or even by proxy are also possible.
agconnect actually offers many advantages: facilitates the preparation of the GA, works in accordance with the legislation and safe on a legal level, quorum visible at all times, provides the results of resolutions in a few seconds, digitalized convocation process, voting and attendance sheets, but also generation of the Minutes with instant electronic signature.
To learn more about our agconnect tool and how it can help you plan and manage your general assemblies in the best way, go to ag-connect.ca!
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Sources :
Condo Légal
https://fr.rgcq.org/trousse-outils/
