The bill amends several sections of the New Mexico Nonprofit Corporation Act to allow nonprofit condominium associations to conduct business remotely. Key changes include the ability for meetings to be held via simultaneous, remote electronic means, which is now recognized for both association and executive board meetings. Specifically, a quorum for meetings can be established if members are present in person, by proxy, or through remote electronic means. Additionally, the bill allows for notices of meetings to be sent electronically, provided that recipients have consented to such communication.

Further amendments clarify voting procedures, allowing members to vote remotely and specifying that proxies can also be executed electronically. The bill emphasizes that the articles of incorporation or bylaws may dictate the voting rights and quorum requirements, but defaults to certain percentages if not specified. Overall, these changes aim to modernize the governance of nonprofit condominium associations, facilitating greater participation and flexibility in their operations.

Statutes affected:
introduced version: 47-7C-8, 47-7C-9, 53-8-15, 53-8-16, 53-8-22
Final Version: 47-7C-8, 47-7C-9, 53-8-15, 53-8-16, 53-8-22