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Block Management – Annual General Meeting

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Block Management – Annual General Meeting

According to the rules of an organization, an annual general meeting (AGM) is held once a year. You’ll need to talk about finances, board elections, and other issues that affect the entire organization during this meeting.

Here are the steps you must take:

Before the AGM, you must first agree on a date for the AGM with the company’s directors. Choose a location, preferably near the OMC. Give all members 21 working days’ notice before the AGM date.
The agenda, minutes from the previous AGM, audit reports from the previous financial year, and a proxy form will be sent out by mail or email so that members who are unable to attend the AGM can nominate someone to represent them. It is not necessary for a proxy nominee to be a member of the OMC.

Making an Agenda – Make a list of the topics you want to discuss that night.

A sample agenda:

β€’ Introductions and welcome to the AGM 
β€’ Approval of the previous year’s minutes 
β€’ Approval of the most recent audit financial statement completed 
β€’ Election of directors – each nominee must be approved by two members of the OMC 
β€’ Any other business – general matters such as maintenance work, etc.

  1. Before the meeting begins, have all attendees sign in. You should get their full name and contact information if possible. Then you would greet everyone who was present.
  2. At the AGM, a member of the management company’s staff will be responsible for taking minutes, which will document all issues that arise during the meeting.
  3. You will begin the AGM by approving the minutes from the previous AGM and receiving approval from the members in attendance.
  4. After that, you’ll need to approve the audit financial reports. The audit reports must be approved by all members present.
  1. Director Elections – Each OMC is required to have at least two directors, which is the bare minimum.
    It’s crucial to keep track of who was elected to the board of directors and who was nominated first and second.
  2. Any Other Business – the AGM’s final section. This is an opportunity for attendees to raise any issues or concerns that have not yet been addressed.
  3. Bring the meeting to a close. Declare the AGM closed once everything has been discussed.
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