Q&A: One Man, One Vote?

Q I am a rent-stabilized tenant in a non-eviction plan Queens co-op. (It was converted in 1986.) A shareholder gave me a ballot proxy so that I could attend the annual meeting of the co-op. Am I allowed to ask questions at this meeting as are the shareholders?

The counsel for the co-op ruled that I may attend and “execute the proxy”, i.e., vote, but refused to recognize me from the floor to ask a question during “new business.” Is this legal? (I also had a power of attorney letter from the shareholder.)

Put another way, does a person acting as a proxy or agent have the same rights and privileges at the meeting as the shareholder he represents?

—Non-Privileged Proxy

A “You state in your query that you were given a ballot proxy so that you could attend the annual meeting. The purpose and intent of a ballot proxy is to give the proxy holder the right to vote the shares of stock held by another,” says Al Pennisi, an attorney with Pennisi, Daniels & Norelli, LLP in Rego Park, Queens.

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Comments

  • can a share holder bring his attorney an annual meeting? if shareholder requests, can the attorney partisipate in discussion? can the attorney ask questions on shareholder's behalf?