The general meeting of co-owners is a key management tool for a condominium in Thailand. Important decisions are made there, governing bodies are elected, and financial documents are approved. The procedure for holding such meetings is established by the Condominium Act and is binding on all participants.
Who convenes the meeting and when.
The first general meeting is organized by the condominium manager within 6 months from the date of registration.
At this meeting:
- internal condominium regulations are approved.
- the Committee is elected.
- the manager is approved.
Annual ordinary meetings are held at the initiative of the Committee within 120 days after the end of the financial year.
The following matters are usually considered:
- balance sheet.
- annual report.
- appointment of an auditor.
- other matters.
Who may initiate an extraordinary meeting.
- the manager.
- the Committee by majority vote.
- co-owners holding not less than 20% of all voting rights.
After receiving such a request, the Committee must hold the meeting within 15 days.
What must be included in the notice.
The meeting notice must contain:
- date and time of the meeting.
- place of the meeting.
- agenda with the list of matters for discussion.
The notice must be sent to all co-owners no later than 7 days before the meeting date.
What quorum is required.
The meeting is considered duly held if co-owners representing not less than 25% of the total voting rights are present.
Alexandra Agapitova.
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