Bill > SB72

This bill updates New Mexico's laws for nonprofit corporations, specifically focusing on condominium associations, to allow for more flexible meeting and voting procedures. The bill modifies several existing statutes to permit remote participation in meetings and voting through electronic means. Key changes include allowing unit owners and board members to attend meetings and vote via simultaneous remote electronic communication, which counts as being physically present. The bill clarifies that notices for meetings can be sent electronically if the recipient has agreed in advance, and establishes that a quorum can be constituted by members participating remotely. For condominium associations, the bill specifies that meetings must still occur at least annually, but now members can join via electronic means. For nonprofit corporations more broadly, the legislation allows directors to participate in meetings through conference calls or similar technologies, and enables voting by proxy or electronic transmission, with certain limitations such as proxy validity expiring after eleven months. These changes aim to make organizational governance more convenient and accessible, particularly for members who may have difficulty attending meetings in person.

Budget and Finance, Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=72&year=25