Annual meeting
The annual meeting is the one meeting of the full membership that most bylaws and state statutes require every year. It is usually where owners elect directors, hear the board's report on finances, reserves, and major projects, and vote on anything that needs owner approval, such as a document amendment.
Getting it right is mostly about procedure. Notice must go out within the window the bylaws or statute set, with the agenda and any ballot materials. Quorum must be reached, counting proxies or absentee ballots where allowed. Elections must follow the documented process, sometimes with secret ballots or independent inspectors. Minutes should record attendance, quorum, motions, and results.
A board that misses the annual meeting risks owners petitioning to call one themselves.