Voting Procedure When Condo Is Owned By A Thai Company

[Delight]

At a Co owners Meeting where a vote is to be held,it is likely that persons voting (via proxy or in person ) will be on behalf of a Thai Company that owns the condo.

Does the person who casts the votes have to show evidence that they have the authority to vote ?

[hhgz]

The Condo Act covers this. If a proxy is used, the owner needs to complete the appropriate form, and have it verified and stamped. If you're worried that anyone can walk off the street, and cast votes in your condo meeting, they cannot. If you have any questions regarding this procedure, it would behoove you to check with the condo manager.

[Delight]

The Condo Act covers this. If a proxy is used, the owner needs to complete the appropriate form, and have it verified and stamped. If you're worried that anyone can walk off the street, and cast votes in your condo meeting, they cannot. If you have any questions regarding this procedure, it would behoove you to check with the condo manager.

Thank you for your reply.Does the Condo Act actually specify that the Proxy has to be "Stamped"

My original question was not about Proxy procedures,but where a condo is owned by a Thai company which may have say 4 directors ,but non of these directors has a majority holding.Is it acceptable for any one of the directors to vote without evidence that the other 3 directors agree with the voting intention?

[PattayaParent]

I think if he holds the proxies he can vote whichever way he wants although it may not be impossible for him to vote 'for' AND 'against' the same motion?

There is also a limit to the number of proxies he can hold at one time, but I don't remember what it is.

Edit: number of proxies is limited in MY condo. I don't know whether this is due to Condo Rules or Condominium Act.

Edited May 5, 2010 by PattayaParent

[hhgz]

"There is also a limit to the number of proxies he can hold at one time"

I believe that it is 3.

The condo act provides a basic framework for relevant dealings, and a proxy is one of them. The laws regarding a proxy are not specific to condos and, therefore, the specifics of the structure of the written proxy, and the necessary verification are not included in the condo act. Again, if you want specifics of what a proxy looks like, how it needs to be completed, and how it is verified, you should visit your condo office. The "stamp" is not free - I believe it is 10THB.

[trajan]

My original question was not about Proxy procedures,but where a condo is owned by a Thai company which may have say 4 directors ,but non of these directors has a majority holding.Is it acceptable for any one of the directors to vote without evidence that the other 3 directors agree with the voting intention?

I just went through this...

The person voting at the meeting on behalf of the Thai company (which owns the condo unit) would need either:

(a) to be the authorized signatory director(s) of the company (reflected in the govt registered "company affidavit" called a "nang sue rap rong") who can legally bind the company (EXAMPLE: there are 4 directors on the board, but only Mr. A is an authorized signatory director as stated in the "company affidavit")

(in which case, you need to have a photocopy of such "company affidavit" signed by such authorized signatory director(s), plus an ID card or passport copy of such director(s) voting);

OR

(b ) have a power of attorney issued in his/her favor by the company, which power of attorney is signed by the authorized signatory director(s) with (usually) company seal affixed

(in which case, you need to have such power of attorney, plus a photocopy of the company affidavit signed by the authorized signatory director(s), plus an ID card or passport copy of the director(s) signing the power of attorney, plus an ID card or passport copy of the person voting by authority of the power of attorney (the so-called "attorney-in-fact").

the issue of "proxies" is not relevant in a company context....individuals can issue a proxy to another person to attend and vote on his/her behalf, but a company acts always through its directors (or attorneys-in-fact)...

Edited May 6, 2010 by trajan

[PattayaParent]

the issue of "proxies" is not relevant in a company context....individuals can issue a proxy to another person to attend and vote on his/her behalf, but a company acts always through its directors (or attorneys-in-fact)...

What if those directors are not in the country or in attendance at the meeting.

And for individuals proxies is it a limit of 3 people's proxies? Or 3 units?

So say if 1 person held 9 units would he be able to transfer his voting rights as 1 proxy to 1 person? or would he have to transfer voting rights as 3 proxies to 3 people?

[briley]

Any one person holding a proxy can only hold proxies for 3 units.

So the person with 9 units has to find 3 people to act as proxy.