§421J-4  Proxies.  (a)  A proxy shall bein writing and shall be valid for only a specified meeting of the associationand any adjournments of that meeting.

(b)  A member of the association may give aproxy to any person or the board of directors as an entity, and the proxy maybe limited as indicated by the member.  No proxy shall be irrevocable unless:

(1)  The proxy is coupled with a financial interest inthe unit; or

(2)  The proxy is held pursuant to a first mortgage ofrecord encumbering a unit or an agreement of sale affecting a unit.

(c)  To be valid, a proxy shall:

(1)  Be delivered to the secretary of the associationor the managing agent, if any, no later than 4:30 p.m. on the second businessday prior to the date of the meeting to which it pertains;

(2)  Contain at least the name of the association, thedate of the meeting of the association, the printed name and signature of theperson or persons giving the proxy, the unit or units for which the proxy isgiven, and the date that the proxy is given; and

(3)  Contain boxes wherein the owner has indicatedthat the proxy is given:

(A)  For quorum purposes only;

(B)  To the individual whose name is printed ona line next to this box;

(C)  To the board of directors as a whole andthat the vote be made on the basis of the preference of the majority of theboard; or

(D)  To those directors present at the meetingand the vote to be shared with each board member receiving an equal percentage.

(d)  Any board of directors that usesassociation funds to distribute proxies that include the election of directorsshall first post notice of its intent to distribute proxies in prominentlocations within the project at least thirty days prior to its distribution ofproxies; provided that if the board receives within seven days of the postednotice a request by any owner for nomination to the board accompanied by astatement, the board shall mail to all owners either:

(1)  A proxy form containing the names of all ownerswho have requested nomination to the board accompanied by their statements; or

(2)  A proxy form containing no names, but accompaniedby a list of names of all owners who have requested nomination to the board andtheir statements.

The statement shall not exceed one hundredwords, indicating the owner's qualifications to serve on the board and reasonsfor wanting to receive proxies.

(e)  Nothing in this section shall affect theholder of any proxy under a first mortgage of record encumbering an apartmentor under an agreement of sale affecting an apartment.

(f)  Nothing in this section shall prohibit theuse of proxies for filling vacancies that occur after the notice of the annualmeeting has been distributed. [L 1997, c 132, pt of §1; am L 2001, c191, §1]