Housing Society AGM Meeting Rules: A Detailed Guide

For a housing society to function well, it is imperative to follow some set of guidelines. This adherence to society agm meeting rules must be set at the very inception stage, ensuring a robust administrative framework can be built on it. To start with, you need to know the housing society AGM meeting rules and other details that can help you in its smooth conduction. Read on to learn more about it.

What is an Annual General Body Meeting (AGM)?

An annual general body (agm) meeting refers to a gathering where people can discuss various essential rules and regulations. Usually, the first general body meeting is held within three months of the date of registration of the society. Usually, the Chief Promoter calls and conducts this meeting. In his absence, the registrar assigns this responsibility to someone else. 

Usually, the people to be involved in the are intimated about it 14 days prior to the final date. In the same notice for the general body meeting of the society, people need to mention the nominations from members, the agenda for agm, and other crucial details associated with the society AGM meeting rules.

What are the Fundamentals of Society General Body Meeting?

The AGM or Annual General Meeting is a yearly meeting that every housing society organises to go through the various problems occurring. The meeting aims to collect the opinions of the members and arrive at an effective solution to resolve the problem. 

Usually, it is advisable to conduct the Annual General Meeting before the 14^th of August every year. In case the housing society members are not able to conduct the meeting within this time frame, they can postpone it by a maximum of three months. 

To shift the date of AGM, first and foremost people need to seek permission from the Registrar of Societies. Additionally, they will need to submit a reason behind this delay. If the registrar is not satisfied, they can appoint another authorised official to preside over the meeting.

Primarily, people discuss essential rules regarding finances, policies, and future course of action of the society. Generally, an infinite number of topics can be discussed in the AGM. However, all the essential decisions that need to be taken in an AGM include the appointment of auditors, election of new members, changes in expenses, and so on.

Also Read: Flat owners association rules and regulations

What is the Agenda of the Annual Society General Body Meeting?

There can be various agendas behind conducting the annual general meeting. These include:

• Reviewing the application of members
• Admitting new members to the society
• Electing the chairman or president for the meeting
• Form a functional managing committee for the next one year
• Deciding various monthly charges that the members need to pay. These include sinking fund, maintenance charges, property tax, non-occupancy charges, municipal tax, parking charges for the use of society’s open spaces (if any), water charges, non-agriculture tax (if applicable), and so on
• Determining and approving the applicability of additional charges
• Calculating all the expenses incurred by the society to date and finalising the borrowing limit 
• Authoring and pointing committee members for different posts
• Appointing an internal auditor and other provisional committee members
• Approving rules and regulations of the society to ensure its smooth functioning is also a part of the society agm meeting.
• Authorising bank transactions, transfer of bank accounts, and signing of cheques
• Discussing new opportunities for the growth of society members

What is the Importance of Recording the Minutes of the AGM of Housing Society?

During the AGM, there is a specific person who is assigned the task of recording the minutes of the meeting (MoM). Usually, the previously elected presiding officer records the MoM. You should note that there is a minutes of society agm notice format, which makes recordkeeping easier.

Some importance of MoM of AGM are as follows:

• Maintaining the MoM accurately is essential as it serves as a legal record for the discussions occurring and decisions made during the meeting. 
• It ensures accountability and complete transparency among the members of the housing society. 
• In case any dispute arises regarding the decisions made in the meeting, the MoM of the AGM serves as a crucial document for resolving disputes.
• With the help of the MoM of AGM, people can track the progress of the decisions made, understand past discussions, and serve as a reference for future meetings.

The points above clearly highlight the essence of recording the MoM of AGM.

What is the Course of the Managing Committee to Ensure There are no Glitches?

If you are a member of the managing committee, you will be playing an essential role during AGMs. Listed below are some of the crucial measures that you can take to ensure there are no glitches in the AGM:

• First, set an appropriate date for the AGM so that all members can easily attend it.
• Finalise the room or spaces where the AGM will be conducted
• Prepare the notice as per the housing society agm notice format and distribute it amongst stakeholders
• Get the signatures of the Secretary, President, and Treasurer to sign the accounts after they have been audited
• Finalise the auditors and their compensations for the next year
• Compile the annual report of the society for AGM and distribute it among members
• Obtain and compile the discussions of the previous AGM to track progress
• Prepare a list of the documents that will be revised during the AGM
• Keep the books of accounts ready so that the members can review it
• Stay prepared to answer various questions the members might raise
• Oversee various administrative details, like printing of reports, distribution of requirements, and so on

What are Some Aspects of the Society Annual General Meeting?

The AGM is held once a year to discuss the performance and strategies of the society. Following are some crucial aspects of the AGM, that you will need to consider:

• It offers a platform for members where they can discuss the progress of the society over the last year and future proceedings.
• The success of the AGM, requires an appropriate date, the right venue, sending notices on time to the members, and careful planning of other events.
• It is essential for every society to have a constitution that can decide on the conduction of AGM.
• Defining the agenda of the AGM gives a direction to the meeting so that all the discussion points can be covered.
• Usually, members get the right to vote on various matters, empowering them to make a decision on the course of action.

Conclusion

Once you are aware of the Housing Society AGM meeting rules, make sure that all the committee members and other participants adhere to them. For legal advice regarding the conduction of AGM, you can contact professionals at No Broker. We have professionals to guide you through every step and ensure that your housing society functions like a well-oiled machine.

Note: Check the details of society management system here.

Frequently Asked Questions