The legal document (The Articles) sets out the details of membership with the CMO. Members must be either Directors or a resident within the Area of Benefit where the CMO operates. Regardless of whether a resident is a freeholder, leaseholder or tenant, residents are entitled to sign up as members. Membership is not automatic.
Residents of the new Chilmington development will be encouraged to sign up as members either at the time of conveyancing or shortly after they move in. Membership is restricted to one individual per household and The Articles limit resident CMO members to a maximum of 50% of the votes at General Meetings.
Membership of the company provides the following statutory entitlements:
- Whilst Annual General Meetings (AGMs) are open to the public; Members retain voting rights. AGMs are distinct from company board meetings and at least one general meeting must be held annually.
- Members can submit and vote on proposed recommendations
- Members can approve any proposed changes to The Articles or the name of the Trust
- At the Annual General Meeting, Members will receive the Directors’ report, the accounts and the auditors’ report, and may appoint the Trust’s auditors
- All Members can participate in the appointment of the Resident Directors