If a homeowner’s association is an Idaho nonprofit corporation, it must hold an annual meeting of its members.
Date and Time of Annual Meeting
The date and time of the annual meeting must be set in the bylaws. Idaho Code § 30-30-501. If the bylaws do not tell the homeowner’s association members when the annual meeting will be held, they violate Idaho Code.
Location of Annual Meeting
The annual meeting must be held in the place listed in the bylaws. Id. If no place is stated in the bylaws, then the meeting must be held at the “corporation’s principal office.” Id. It is typical for bylaws to state that the location of the annual meeting may be set by the directors.
Report on Financial Condition of Association
At the annual meeting, the president and “chief financial officer” (e.g., treasurer) must “report on the activities and financial condition of the corporation. Idaho Code § 30-30-501. This is usually done by way of a review of the financials of the homeowner’s association. Idaho Code does not say what exactly must be presented to the members.
Other Business
The members must also act on matters that are “raised consistent with the notice requirements” of Idaho Code § 30-30-505. We discuss the notice of meetings in a separate blawg post. Click here to read it.
Failure to Hold an Annual Meeting
If the homeowner’s association fails to hold an annual meeting as fixed in the bylaws, it does not “affect the validity of any corporate action.” Idaho Code § 30-30-501.
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