What is the name of your state? Chicago, Illinois
We have come across a difficulty in how to interpret an item in our condominimum bylaws on voting:
We have six units, and of these only 5 have a garage deeded space. Thus % of common ownership in the common elements are divided as follow in the bylaws declaration:
6 units, each has 15.5% of the common elements in the building
5 units, each has 1.4% of the common elements associated with the garage
One of the units, the one without the deeded garage space, has thus lesser % of the 100%.
We have always had the unit with lesser % in the common ownership pay less percentage of the assessments than other units as well as less % on any special assessments for special projects.
Now this is the question:
Do all 6 units have equal voting rights, 1 vote per unit, 6 units=6votes; or does the vote of the unit without the garage space has a lesser % of the 1 vote?
Would any 3 units of the 6 comprise 50%, and would any 4 units of the 6 comprise 2/3 majority, no matter on what issue we vote, whether on policy or on special assessments for building projects?
The question arose when the following policy was introduced and voted on by 4 units represented in the meeting:
"Expenses up to $500 be approved with three signatures; $500 to $1000, four signatures; more than $1000 would require the signed approval of two-thirds of the ownership, according to the declarations--which means 2E [the unit without the garage] would not be part of the four for the two-thirds approval because that percentage is slightly lower."
Our bylaws, Article IV, sec. 6 read: "The Board shall not approve any capital expenditures in excess of One Thousand Dollars unless required for emergency repair, protection or operation of the Common Elements, nor enter any contracts for more than three years without the prior approval of two-thirds of the total ownership of the Common Elements."
Is the new policy introduced above legal and in sync with the Illinois condominium laws governing the bylaws, or should the clause "--which means 2E [the unit without the garage]
would not be part of the four for the two-thirds approval because that percentage is slightly lower" be deleted as illegal and invalid because all 6 units have equal vote of 1 vote per unit, not goverened by the % of the common ownership of the common elements as shown by the percentage of ownership above? How should we interpret the bylaws, Art IV, sec 6? What constitutes 2/3 majority in our case, what 50%?
HELP?
We have come across a difficulty in how to interpret an item in our condominimum bylaws on voting:
We have six units, and of these only 5 have a garage deeded space. Thus % of common ownership in the common elements are divided as follow in the bylaws declaration:
6 units, each has 15.5% of the common elements in the building
5 units, each has 1.4% of the common elements associated with the garage
One of the units, the one without the deeded garage space, has thus lesser % of the 100%.
We have always had the unit with lesser % in the common ownership pay less percentage of the assessments than other units as well as less % on any special assessments for special projects.
Now this is the question:
Do all 6 units have equal voting rights, 1 vote per unit, 6 units=6votes; or does the vote of the unit without the garage space has a lesser % of the 1 vote?
Would any 3 units of the 6 comprise 50%, and would any 4 units of the 6 comprise 2/3 majority, no matter on what issue we vote, whether on policy or on special assessments for building projects?
The question arose when the following policy was introduced and voted on by 4 units represented in the meeting:
"Expenses up to $500 be approved with three signatures; $500 to $1000, four signatures; more than $1000 would require the signed approval of two-thirds of the ownership, according to the declarations--which means 2E [the unit without the garage] would not be part of the four for the two-thirds approval because that percentage is slightly lower."
Our bylaws, Article IV, sec. 6 read: "The Board shall not approve any capital expenditures in excess of One Thousand Dollars unless required for emergency repair, protection or operation of the Common Elements, nor enter any contracts for more than three years without the prior approval of two-thirds of the total ownership of the Common Elements."
Is the new policy introduced above legal and in sync with the Illinois condominium laws governing the bylaws, or should the clause "--which means 2E [the unit without the garage]
would not be part of the four for the two-thirds approval because that percentage is slightly lower" be deleted as illegal and invalid because all 6 units have equal vote of 1 vote per unit, not goverened by the % of the common ownership of the common elements as shown by the percentage of ownership above? How should we interpret the bylaws, Art IV, sec 6? What constitutes 2/3 majority in our case, what 50%?
HELP?