All condo association boards in Chicago are required to meet four times per year as part of the Illinois Condominium Property Act. There must also be an annual meeting in which board member elections are held. That said, the frequency of board meetings will vary from association to association. Some choose to hold meetings every month, whereas others might commit to quarterly meetings.
Below we’ll share some additional information about board meeting requirements in Illinois and what happens at these sessions.
Condo Board Meeting Frequency
The specific meeting frequency and board member requirements are unique to each HOA, so be sure to consult your governing documents and bylaws to find out more about how your association operates. Each condo association’s bylaws should stipulate board meeting requirements for its HOA.
Included in the bylaws should be information related to how many people should sit on the board, how often the board should meet, notice requirements and other board member requirements.
What Happens During Board Meetings?
During HOA board meetings, important decisions regarding the management, operation and financial aspects of the condo association are discussed and voted on. This includes topics such as budget approvals, assessment rates, maintenance and repair projects, rule enforcement and any other matters relevant to the association. When the board wants to make decisions and take action on an issue, they must do so in the best interests of their association community.
For unit owners who are not board members, attending open-session meetings or reviewing the meeting minutes can provide valuable insight into the association’s decision-making processes and ongoing activities. It can also help inform how you plan to vote on upcoming board member elections.
If your condo board needs help managing any of the many aspects of running your Chicago condo association, please get in touch with us at First Community Management. We attend board and annual meetings as well as assist with important board management and financial responsibilities.