Proxy votes AGM
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Hello All,
Is there anywhere in the Horizontal Law which states that an owner is limited to the number of proxy votes he or she may have?
Thanks in advance.
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No.
The only restriction is that an owner of multiple properties can only vote once in regards to his/her properties
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Many thanks, as I thought.
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On another note, if say a Bank is responsible for various properties on a community, can a representative from that Bank attend an AGM in order to vote for each of those properties?
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Yes. If a Bank owns several properties, the Bank's representative can vote for the several properties. However, as a single owner the Bank gets one vote for all its properties and also the total sum of those properties' participation percentages. Every resolution requires a double majority: of votes (where the Bank has only one) and of participation percentages (where the Bank has the total sum of all its properties). The same is true for all owners, one vote plus the sum of all the percentages of the properties he may own.
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