Frequently asked questions about annual meetings and elections
The 2024 annual meeting season begins May 16. The feverpitch of activity will continue for the next six weeks as all 16 mutuals and the Golden Rain Foundation (GRF) host their annual meetings.
The annual meeting and election season began in January and will conclude at the end of June. There are often many questions about this time of the year and why these activities are important.
What is an annual meeting and how is it different from a regular board meeting?
The mutual corporations and the GRF are required to have annual meetings in order to report to the membership their activities during the past year.
Directors read reports concerning finances, infrastructure, accomplishments, and goals for the future.
An annual meeting is similar to a State of the Union speech as directors are limited to presenting reports; business is conducted at board meetings.
Who can attend annual meetings?
Shareholders/owners are encouraged to attend their mutual annual meeting (see schedule on the right). All Foundation members are encouraged to attend the GRF Annual Meeting on Tuesday, June 11, at 2 p.m. in Clubhouse 4.
Are the elections and annual meetings held on the
same day?
The ballot counting for the Mutual’s election will be con-ducted at the annual meeting. The ballot counting for the GRF election will be conducted at a special GRF Board meeting at 10 a.m. on Tuesday, June 4, in Clubhouse 4, one week before the GRF Annual Meeting.
QUESTIONS,)page)8
NOTE: * = If the date to apply as a candidate falls on a Saturday or Sunday, applications may be picked up the previous Friday.
** = On deadlines that fall on a Saturday or Sunday, applications will be accepted the following Monday. Candidat e applications must be received in Stock Transfer Office by no later than 4:30 p.m. on the deadline day.
*** = I f the date t o mail ballo ts (30 day s before th e election) falls on a Friday, Saturday or Sunday, the ballots will be mailed the previous Thursday.
**** = The quorum for Bylaws is pursuant to Sections 211 and 152 of the Corporations Code, the proposed Amended and Restated Bylaws must be approved by quorum as stated above. If approved by the shareholders, the Amended and Restated Bylaws will become effective immediately.
lelr/GRF/and/Mutual/election/and/annual/meeting/schedulec
