Q Our co-op has a question about our various insurance policies. Our insurance agent has recommended to the board that we keep our D&O coverage separate from our general liability coverage. I understand that some commercial general l…
When it comes to board members pushing their own pet projects, stalling meetings, and generally gumming up their building’s administrative works for selfish reasons, Chris Ebert, senior property manager of Downtown Properties in Manhatt…
Shareholders often find themselves “butting heads” with the board of directors at the co-op buildings in which they live. Often the disputes, which arise are disagreements over a shareholder’s personal agenda, and a board not allowing th…
Q Can the president of the co-op board be in business with the managing agent company’s owner without divulging it to the shareholders or other board members? The board members were recently notified that the owner is one of the boar…
Inefficiently-run board meetings are time-wasters that can make even the most enthusiastic board member cringe at the thought of an upcoming session. By contrast, a well-run board meeting can be a productive hour or two that benefits t…
Q “A number of shareholders have raised questions about the management of the our co-op corporation. The board has been largely in place for 10 years, the managing agent for 20, and the board retains an attorney, who also served the …
Q Do the shareholders in a New York City co-op have the right to obtain the tabulated results of a board of director’s election, rather than simply the names of the shareholders that won? If you are a shareholder who is running for th…
Q We are a small co-op building of 28 units in Jackson Heights, Queens. We would like to know if during an interview of the prospective buyer a seller is allowed to be present, where he/she might intervene during the process favoring…
Q My question is about the co-op’s building sponsor. I understand the building is owned by each shareholder and that they vote in a board to run the corporation. How does the sponsor factor into all of this? Is the sponsor part owner a…
Although it is frequently assumed that cooperative boards of directors are totally responsible for all building decisions, typically they are assisted by a large group of professional consultants who not only guide them but also sometime…