N.J. DCA Landlord/Tenant Information Series — Mobile Home Park Leasehold Communities Law

Citation
N.J. DCA Landlord/Tenant Information Series — Mobile Home Park Leasehold Communities Law
Jurisdiction
New Jersey (state)
Source
Official source
Original Source
https://www.nj.gov/dca/codes/publications/pdf_lti/mobile_hm_pk.pdf ↗

Related Parts of This Source

Full Text

1,555 chars 
(4) A majority of the members shall constitute a quorum. Decisions shall be made by a
majority of members represented at a meeting at which a quorum is present; provided, however,
that any decision to acquire the private residential leasehold community shall only be made by
not less than two-thirds of all the homeowners and any decision to convert the private residential
leasehold community to a condominium or cooperative or other form of ownership following its
acquisition by the homeowners' association shall only be made by not less than a majority vote
of all of the members of the homeowners' association. In addition, provision shall be made in the
bylaws for definition and use of proxy. Any proxy given shall be effective only for the specific
meeting for which originally given and any lawfully adjourned meetings thereof. In no event
shall any proxy be valid for a period longer than 90 days after the date of the first meeting for
which it was given. Every proxy shall be revocable at any time at the pleasure of the member
executing it.

(5) The board of directors shall mail a meeting notice and copies of the proposed annual
budget of expenses to the members not less than 30 days prior to the meeting at which the budget
will be considered. If the bylaws provide that the budget may be adopted by the board of
directors or trustees, the members shall be given written notice of the time and place at which the
meeting of the board of directors or trustees to consider the budget will be held. The meeting
shall be open to all members.