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lkn

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About lkn

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  1. I certainly did not make that argument. I wrote “reasonable details” and “matters to be voted on”. This is Samui For Sale’s translation of the clause being discussed: Section 42/3 On summoning to the General Meeting, written letters indicating the place, date, time and Meeting agendas and the matters to be presented to the Meeting together with reasonable details shall be made and forwarded to the joint owners at least seven days prior to the Meeting date. When interpreting the Act one should remember that the intent of the Act is to protect the interests of the individual co-owners. Clause 42/3 serves to protect co-owners from surprise resolutions being passed on an AGM they were unable to attend. If that is not the intent of clause 42/3 then why mention that co-owners must be informed about “matters to be presented […] with reasonable details”? Though in practice, if a resolution is passed that a co-owner disagrees with (and was not notified about in advance), they will have to go to the courts to get a judgement, and the judge will likely look at the impact of the resolution. For example, if the AGM voted to ban pets from the building, the judge may find this negatively impacts non-present co-owners, so this should have been communicated to them in advance, whereas if the vote is to buy new uniforms for the staff, the judge may find that this is reasonable to expect discussed under “any other business”.
  2. But you do know whether or not you will appoint new board members, so you put “appointment of new board members” on the agenda. It is not a problem to leave out a list of nominees, as all co-owners will know that new board members will be appointed, and they should know that all co-owners can serve on the board, so no-one can claim surprise if their neighbour gets elected. Only if someone who does not qualify, according to the Thai Condo Act, gets elected to serve on the board (e.g. an outsider) should co-owners have reason to complain that this person was not listed on the agenda prior to the AGM, as this would be an unexpected outcome from only reading the agenda. As for JPM: You really should know who you’re going to propose as JPM seven days before the AGM, though I’m inclined to say that if the agenda only says “election of new JPM” without a nominee, this is enough of a clue to co-owners that they should attend this AGM, if they at all care about the JPM.
  3. Only when the building is run by a bunch of amateurs (which I know is quite common here) — but that should be an argument in favor of enforcing the 7 day rule, because you need as many checks and balances as you can get with some of the types running Thai buildings here.
  4. Sorry, but please provide your source when you claim such things, because work permits fall under Ministry of Labour, and the Land Office nor the bank would know whether or not the Ministry of Labour require work permit for being JPM. I have a written response from the Chiang Mai Land Office that says that their department does not have an issue with a foreigner being appointed JPM and our bank already allow foreign committee members bank access, so I fail to see them extending this to a foreign JPM.
  5. I understand perfectly well that the Thai Condo Act describes it as written permission for someone else to vote on your behalf. I was replying to your argument that “if people doesn’t even bother to send a proxy…” — what I am saying is that how would I know if I actually need to send a proxy, if the agenda sent to me is misrepresenting the issues to be voted on? Anyway, we are repeating ourselves, no need for further follow up on this. This is not really how it works. When you have a clause that says (paraphrasing) “agenda with reasonable details must be sent to co-owners 7 days in advance” you can certainly make the legal argument that if reasonable details have not been provided to co-owners 7 days in advance, the meeting cannot pass any resolution on the item. Btw: You seem to believe that only the chairman can set the agenda for the AGM. There is no law preventing co-owners from submitting items to be discussed prior to the AGM, and co-owners should have a reasonable idea about when the AGM will be held (1-4 months after end of their financial year), so if you have proposals, send them to the committee shortly after the end of the financial year and ask for confirmation that it gets added to the agenda, if they fail to confirm this, send the proposal directly to the co-owners.
  6. It’s of limited use to send a proxy if you do not know what things to vote on. For example on our last AGM the chairman wanted to vote on various restrictive house rules which had not been included in the invitation. Even if people had sent a proxy, the proxy would not know how the person they represent feels about these restrictions, and even if a majority of co-owners is present at the AGM, there could be a lot of people not really caring about the restrictions and thus not voting against them, because those affected by the house rules is not there to argue their case (as no-one has told them that there will be a vote). But as I wrote earlier, the Thai Condo Act does not make it clear whether or not all matters to be voted on must be sent to co-owners 7 days in advance, I generally argue that they must, because it is the most fair, but I understand that not all lawyers will reach the same conclusion, as is so often the case with Thai law.
  7. The Thai definition of “work” (requiring a work permit) does not consider salary. However, as it is extremely broad there was a narrower interpretation made in 2015 which explicitly allow a list of activities (like attending a board meeting) and also says that for something to be work, it has to affect the local labour market. Sort of questionable whether or not having a (foreign) co-owner be JPM affects the local labour market, for our building, I would have a hard time define our JPM’s role as a real job, as he doesn’t really do anything besides signing cheques. Also of interest, in the Thai Condo Act, it says that if the JPM resigns, then a one of the board members has to step in as interim JPM. But in theory, all board members could be foreigners.
  8. Assuming you are a foreigner, you will have to go to a Thai bank and provide them with documentation to prove the source of your funds (inheritance). This could be the death certificate of the deceased and their will, but given that we are talking about ฿50 million then you may also have to document or explain how the deceased achieved their fortune. There is no law preventing you from taking money back to the U.S. but there are anti-money laundering regulation, know your customer requirements, and also some Thai specific checks to ensure the money was not earned by working illegally in Thailand.
  9. The Condo Act requires that the meeting agenda and reasonable details about the items to be discussed be sent to co-owners no less than seven days in advance. If resolutions can be passed that have not been sent to co-owners in advance, you can wonder why would the Condo Act require reasonable details for the items to be discussed, when anything can be brought up (for voting) on the meeting? Though I do not think the law (as usual with Thai law) makes it clear one way or the other. My own interpretation is that votes to be held at the AGM must be communicated to the co-owners seven days in advance, but this interpretation is because it is the one that is most fair to the people who does not show up at the AGM. As for the chairman setting the agenda: As a non-board member I have sent proposals to all co-owners prior to an AGM and told them that I wished a vote to be held about this. A chairman cannot deny a co-owner to do that.
  10. I didn’t get the impression that stud858 is trying to “sell” his system, just offering to share his solution with anyone who might be interested. As for “established software”, I think the tasks of managing a building’s finances boils down to: - Personal accounts: This is standard double-entry bookkeeping with an account per unit. - Invoicing: For management fee, utilities, etc. and personal accounts gets debited when invoices are issued. - Payment receipts: For when co-owners pay their receipts, and their account gets credited. - Utilities: Water/electricity meters needs to be read periodically and owners invoiced/debited accordingly. I put this as separate item because historic readings should be preserved. - Payroll: Employee salaries depend on overtime/leave. - Point of sale: Many buildings sell bottled water, cleaning, TM30 registration and similar. All this should of course be recorded. - Inventory tracking: This could be seen as part of the POS system, although you also need to input restocking information and settle your loss account periodically. In my building, our accounting software only takes care of the first item on my list, the rest we track with custom spreadsheets, and while I do not have experience with software packages that can handle all on my list, I do think the complexity would be too high for our employees, if they had to learn to use such software package. For example with our custom system, payroll can be bridged to a Google Calendar, reading utility meters can be done via a Google Form on a tablet that the employee carries around the building, and best of all, we have 100% control over our data.
  11. Can you share with us: 1. How many rooms? 2. How many employees? 3. Revenue? Just rough figures, asking because I am curious, as it sounds like a big operation you’re running. I’m in a smaller building myself with revenue of only a few million, and a handful of employees. Though despite being a small building, before I took over, it wasn’t possible to “check” our finances, as everything was done on a cash in, cash out basis, expenses were not accrued, personal accounts were not debited when invoices were issued (there were no personal accounts), and basically all documents were only available in physical form, even things like calculating water supply costs for the rooms were done on paper.
  12. Does that mean you have the building staff do all accounting? How do you ensure that there are supporting documents for each entry your staff make? E.g. if they add an expense like “change filter for swimming pool: 2,352 baht”, how do you know it is legit? Can you get an auditor to create a financial report for the AGM based on your custom system? For my building, we have a freelance accountant that does the bookkeeping, so while she receives a monthly report with many of our numbers that are indisputable (management fee is based on sq.m., water supply cost based on meter readings, employee salary (overtime) based on worksheets, front desk sales + inventory counts, bills paid via automatic debit from bank statement, etc.), she also goes to our building and then gets all physical receipts from expenses related to general building maintenance. She will check them, enter them into her accounting system (she uses Express) and then send me the ledger for approval. When I have approved it, she does the monthly income and expenditure report.
  13. The exemption is that if the place has less than five rooms, the Hotel Act does not apply. What is not clear to me is if that is the entire building (so e.g. most townhouses would be exempt), the person doing the renting (having less than five rooms in total or in that building), or, that it means that the place being rented out does not fall under the act if said place has less than five rooms, which IMO would be the least logical interpretation of this exemption, yet, a Thai lawyer actually told me that this was the correct interpretation, which seems absurd to me.
  14. Is it even certain that the Hotel Act applies to condos? Because it has a few exemptions, and I have found no definite source saying it does indeed apply to (all) condos.
  15. Revolutionise the world? Bitcoin has existed for 8 years, which means a lot of people must have given a lot of thought to what it can enable, and yet the only thing I see it enabling is for people to digitally accept payment without having to go through an official institution (like a bank, PayPal, or similar), and while this is certainly a nice thing, it’s not something majority of people need. So what exactly will cause digital currencies to revolutionise the world? Or are you thinking of smart contracts? Because while they do allow some neat things, it’s hard to imagine them playing a role in regular people’s life, especially because they have no power in the real world, for example we can’t make a smart contract that triggers payment once you have finished the job I have hired you to do.
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