Director Elections 12 November 2008

Our five-person Board of Directors controls our Market Street at Town Center Condominium. Among other things, our Board decides who will serve as our Association’s officers--President, Vice President, Treasurer, and Secretary.

The terms of two of our current Directors--Jeff and Varsha--run until our annual Unit Owners Association meeting in late 2010, two years from now. But the terms of current Directors Mike and Betty end as of our upcoming annual meeting 12 November 2008, less than two months from now. There will be elections at that meeting to fill those two Director positions for three-year terms. Our official Association Website at the following link mentions those two open Director positions.

http://www.marketstreetattowncenter.com/

The term of the remaining Director position--the one now occupied by Chris--runs until our annual meeting in late 2009, one year from now. Our Board elected Chris to that Director position when GRACE decided not to exercise its right to have a Director on our Board. Because our Board (rather than we unit owners as whole) elected Chris, the following sentence from the Virginia Condominium Act appears to apply: “Each person so elected shall serve until the next annual meeting of the unit owners' association at which time a successor shall be elected by a vote of the unit owners.” (See paragraph B at this link: http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+55-79.73 ) So, it appears to me that we unit owners should elect a successor to fill that Director position for the year of the term remaining. Depending on what GRACE decides to do, we residential unit owners might elect three of our five Directors at this upcoming annual meeting, less than two months from now.

GRACE might choose to exercise its right to appoint a member of its Board of Directors to serve concurrently as a member of our Board of Directors. If GRACE does that, I recommend that the GRACE Director be deemed to be elected to one of the positions with a three-year term. Then the Director candidate with the most votes would go into the other three-year-term position, and the candidate with the second-most votes would go into the position with just one year remaining in the term. The advantage of this approach is that we unit owners will then get to elect at least one Director at each annual meeting, as it appears our bylaws intended.

If GRACE decides not to appoint one of its Directors to concurrently be one of our Directors, than the candidate who receives the third-most votes from us unit owners should go into the position with one year of the term remaining.

Please see my two posts on this blog from December 2007 and also my post of 30 November 2007 on this blog for more information regarding the issues raised in this post. If you wish to comment on this or any Market Street at Town Center Condominium Unit Owners Association issue, please post your comment on my forum at the following link:

http://mstcuoa.proboards59.com/