Co-op boards and homeowners’ associations maintain building-specific bylaws, rules and regulations, and are responsible for making sure they are enforced. The certificate of incorporation, the proprietary lease and the bylaws are like a …
Q We have only three board members in our building. The current board has been in place for about seven years, and our shareholders would like to remove them because they’re ineffective. They failed to replace a board member who resigne…
Q I have been an apartment owner in a Woodside cooperative since 1985. Presently, we shareholders are faced with the problem of an overly controlling board. I am looking for an explanation, in layman’s terms, of ARTICLE III, title…
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…