Q “I have requested to see financial statements, general detail ledger reports and the current cooperative budget. The board and its attorney claim that I have no right to see these documents. Are they correct?” —Fiscally Concerned …
Q I am a board member and shareholder in a Westchester County cooperative where there has recently been a lot of conflicts among board members. There is a board member who owns her own realty company and is now privy to all confidentia…
Q Does corporate law require that co-ops have an annual audited financial budget for shareholders? —Budgeter in Brooklyn A “The law imposes no such requirement on co-op apartment corporations,” says Thomas E. Kass…
Charging Fee For Lockers Q What happens if there were storage lockers in our building that were either given free to the shareholders or they were ‘sold’ for a set fee of $500? Once a shareholder left, the storage unit reverted b…