Changes Affecting Condominium Associations

Director Abstaining from Voting:

In an attempt to avoid a conflict of interest, Directors & Officers would vote, “abstain, neither, nor, refrain, desist and even present”. Although they may have been savvy, the vote used would officially count as an opposed vote. Likewise, if Directors & Officers vote neither, nor or abstain etc… the vote was presumed to have assented to the action.

Effective October 1, 2008; if Directors & Officers vote to abstain on any corporate action taken, he/she would be presumed to have taken no position with regard to the action. Consequently, Directors & Officers may now vote to abstain without the minutes reflecting an opposition. (more…)