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Can the owners' meeting be held without an industry committee?
You can't.

If you don't trust the existing Committee members, you should initiate the issue of re-election of the Committee members, and collect more than 20% of the owners' signatures on this issue and submit them to the current Committee, which will preside over the re-election of the Committee. If the current industry committee does not adopt or organize the owners' meeting, it can complain to the local (county) Housing Authority and ask the Housing Authority to supervise the industry committee to perform its duties.