It is that time of year…annual general meeting season

Many corporations have December 31st fiscal year ends. If that includes your corporation, you must hold your annual general meeting before the end of June. With so many things to remember, I thought I would set out a few reminders here over the next few weeks. Today I thought I would talk about notice to the owners (and mortgagees).

  • Content: The notice of meeting must include the place, date and time of the meeting and the business to be presented. The agenda is normally included within the notice since no matter may be voted upon at the meeting unless it was clearly described in the notice.
  • Attachments: The notice package must include any proposed changes to the declaration, by-laws or rules that are to be discussed at the meeting; any requisitions received if they are to be added to the meeting; the audited financial statements (if it is an AGM); and any owners’ meeting minutes that need to be approved by the owners. While the Act does not require proxies to be included, including one will make it easier for owners to use them.
  • Who to notify: each owner and mortgagee who has notified the corporation of its name and address for service (the mortgagee must also have the right to vote or the consent of the owner).
  • When to send it out: The corporation must send out the notice of the meeting at least 17 days before the meeting. The Act says 15 days, but that excludes the day of mailing and the day of the meeting. Because the list to be used is those whose names appear in the record 20 days before, this only gives a brief period of time to prepare and send the notices.

Please note – the above are only some of the requirements of the Act. The corporation’s by-laws may have additional requirements. Any provision in a by-law that is consistent with the Act and Declaration would apply as well.