In New York State, cooperative corporations are governed by the New York Business Corporation Law (BCL), a piece of legislation that dates back to 1890 and is considered a very influential model for U.S. corporate law. The BCL contains 20 …
Living in and running a co-op or condo can be stressful. And it's understandable that both the board of an association and those to whom it serves can find themselves overwhelmed, not only with vital information pertaining to their day-to…
Generally, board directors in condos and HOAs are volunteers who live in the building and want to assist in protecting their investment. Often, however, new board members enter positions without knowing the full scope of expected responsibi…
Co-op and condo board members are charged with the all-important responsibility to make critical policy decisions that ensure the building, the property, and their neighbors' interests are cared for and protected. It's a job that requires l…
With so many people leading busy, sometimes hectic lives that revolve around work, kids, social functions, and other obligations, it's often very difficult for co-op, condo, and HOA administrators to find residents willing and able to serv…
It starts innocently enough. The plumbing in your building has been giving the residents grief: toilets constantly running, inconsistent water pressure and sputtering faucets. The reserves are low and the three quotes you got from plumbing …
Q Until last year, our board was elected at the general meeting, with shareholder votes weighted by the number of shares they owned, and with these votes cast as one vote each for seven of the candidates (that being the total number of …
Having an apathetic, uncommunicative board is a big issue in many buildings and associations, but the opposite situation—a board that oversteps its authority—can be just as problematic. When a board does something it should not do, or fail…
Most condo/HOA boards are made up of ordinary, well-meaning folks who volunteer for the relatively thankless job of running their association. They donate their time, expertise, and effort to make their community as functional, solvent, an…
Normally, a co-op, condo, or HOA management team is well-equipped to handle a wide variety of day-to-day matters, like leaky roofs and faulty garbage disposals. There are other bigger issues—such as embezzlement and fraud—that require outs…