55-467 - Voting; proxies.
§ 55-467. Voting; proxies.
A. If only one of the multiple proprietary lessees of a unit is present at ameeting of the association, he is entitled to cast all the votes allocated tothe cooperative interest of which that unit is a part. If more than one ofthe multiple proprietary lessees are present, the votes allocated to thatcooperative interest may be cast only in accordance with the agreement of amajority in interest of the multiple proprietary lessees, unless thedeclaration expressly provides otherwise. There is majority agreement if anyone of the multiple proprietary lessees casts the votes allocated to thatcooperative interest without protest being made promptly to the personpresiding over the meeting by any of the other proprietary lessees of thecooperative interest.
B. Votes allocated to a cooperative interest may be cast pursuant to a proxyduly executed by a proprietary lessee. If there is more than one proprietarylessee of a unit, each proprietary lessee of the unit may vote or registerprotest to the casting of votes by the other proprietary lessees of the unitthrough a duly executed proxy. A proprietary lessee may not revoke a proxygiven pursuant to this section except by actual notice of revocation to theperson presiding over a meeting of the association. A proxy is void if it isnot dated or purports to be revocable without notice. A proxy terminates oneyear after its date, unless it specifies a shorter term.
C. If the declaration requires that votes on specified matters affecting thecooperative be cast by lessees other than proprietary lessees of leasedunits: (i) the provisions of subsections A and B apply to lessees as if theywere proprietary lessees; (ii) proprietary lessees who have leased theirunits to other persons may not cast votes on those specified matters; and(iii) lessees are entitled to notice of meetings, access to records, andother rights respecting those matters as if they were proprietary lessees.Proprietary lessees must also be given notice, in the manner provided in §55-465, of all meetings at which lessees may be entitled to vote.
D. All votes allocated to a cooperative interest owned by the associationshall be deemed present for quorum purposes at all duly called meetings ofthe association and shall be deemed cast in the same proportions as the votescast by proprietary lessees, other than the association.
(1982, c. 277; 2004, c. 242.)