Q&A: Board Problems

Q. I  have recently been elected to the board of directors at my co-op in Suffolk County. I rocked the boat when I was elected. The current board is not interested in doing necessary things, but rather stall projects and try to distract the shareholders from the current issues.

 Some shareholders had assigned parking spots in the luxury co-op section. They have just voted to remove the assigned parking. Although I find it wasn’t in the offering plan, they have been there for over eight years. Aren’t they then considered grandfathered in?

Also, I have many shareholders asking questions regarding the monthly meetings, and if can they have a copy of the minutes. The board refuses to release any minutes to the shareholders. Can they get away with that? They also told me that they do not record who voted for what in the minutes. I don’t think they can get away with that either. 

                                               –Feeling Stifled

A. “The writer raises a number of questions regarding the governance of his cooperative corporation,” says attorney Jeffrey Reich of the New York City firm of Schwartz Sladkus Reich Greenberg Atlas LLP. 

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