While there are many similarities between co-ops and condos, are the two very different when it comes to things like insurance and liability? The answer is both yes and no. There are similarities, but some significant difference…
Q Late last year, our board decided to make changes to our bylaws by an act of resolution; a move not authorized by our governing documents. A group of shareholders called a special meeting to oppose the changes, and they were voted on…
Q Our board president was given a violation for doing electrical work without a permit and blamed the superintendent for reporting the work to the New York City Electrical Board. She asked the board for the reimbursement for the cost o…
Every co-op and condo building in the city is different, and every board is a unique blend of personalities. Two buildings located next door to each other may take very different approaches to identical daily challenges, and while cert…
The Business Corporation Law, or BCL, is one of the primary statutes regulating operation of cooperative housing corporations. The BCL was implemented over a century ago, and remained more or less unchanged until it was overhauled in 19…
Imagine that your building's sponsor has planted a friend or business partner in one of the units he owns in the building. This shareholder then decides to run for a seat on the board and with the help of the sponsor, wins. In addition t…