Becoming a director of MC while developer is still a director

[Lyndan]

Hi All,

I was looking for some advice - Recently one of the developers/directors of our Management Company died and we currently only have one director. The other developer who is listed as a director was never really in the limelight and no one has ever met or talked to him (the one that died was contactable). Our management agent tells us that they are constantly onto the existing director to tell him he has to appoint someone else as there must be a minimum of 2 at all times.

We have asked if he will accept residents as directors and are waiting on a response. If he will not accept residents now we were thinking of trying to get people on at the AGM -

I wondered if anyone had any experience of how this process works?
Do we need to send notification that we plan to be nominated?
Does the existing director have to sign off on this?
Will any resident who goes as director have the same amount of power as the other directors if that director still owns unsold apartments in the development (still in name of developer)? Would it be better if we tried to get more residents on the board then developers so then we would control the vote?
Do the residents who go forward to be directors have to be fully paid up members (we pay by standing order monthly - turns out you only have a vote at the AGM if you are fully paid for that year when it is held).

Any other advice of people who have been through this would be greatly appreciated,

Thanks

 

[purpeller]

It's all going to depend on what it says in your Managment Company's articles. If you don't have a copy, you can get them from the CRO website for a small fee.

In my personal experience, your development will only benefit from having residents involved. I'd be astonished if the other director refused residents as directors.

The agenda for the AGM is usually sent out with notification of it. You should put something like "re/election of directors".
Once a quorum votes on something at the AGM, unless it says otherwise in your articles, you shouldn't require the other director's approval.

"Will any resident who goes as director have the same amount of power as the other directors if that director still owns unsold apartments in the development (still in name of developer)?"
This, and votes for not fully paid up members, will depend on how voting at the AGM is laid out in the articles.

Best of luck!

 

[shesells]

Just to clarify, only owners would be entitled to become directors, not residents. OP is probably an owner but in terms of management companies it's essential to distinguish between owners and residents.