44-3-230. Frequency of meetings; notice.

Meetings of the members of the association shall be held in accordance with the provisions of the association’s bylaws and in any event shall be called not less frequently than annually. Notice shall be given to each lot owner at least 21 days in advance of any annual or regularly scheduled meeting and at least seven days in advance of any other meeting and shall state the time, place, and, for any special meeting, purpose of such meeting. Such notice shall be delivered personally or sent by United States mail, postage prepaid, statutory overnight delivery, or issued electronically in accordance with Chapter 12 of Title 10, the “Uniform Electronic Transactions Act,” to all lot owners of record at such address or addresses as designated by such lot owners or, if no other address has been so designated, at the address of their respective lots. At the annual meeting, comprehensive reports of the affairs, finances, and budget projections of the association shall be made to the lot owners.#

In the event an association fails to hold an annual meeting on or before the last day of the association’s fiscal year, such meeting may be called by the holders of at least 5 percent of the voting power of the association, or such other amount as the articles of incorporation or bylaws shall specify, provided that such articles or bylaws shall not require more than 25 percent as a minimum of the voting power, and provided, further, that such call shall be signed by the holders, dated, and delivered to any corporate officer of the association and shall include one or more demands and shall be transmitted in writing or by electronic transmission for the meeting describing the purpose or purposes for which it is to be held.#