Q&A: When a Board Refuses to Make a Shareholder List Available

Q. We are shareholders and residents in a co-op in Westchester. The building provides underground parking for a fee. These cars are handled by a contracted valet parking service, who are careless to say the least. For a small increase in cost, the building will assign self-parking/dedicated spaces – if, and when, available. There is a waiting list for these spaces. The board refuses to make this list available to shareholders. They will, however, inform the shareholders of how many people are ahead of them on the list.

When I asked months ago where I was on the waiting list, I was told that there were five people ahead of me. Recently, I checked in again and was told that there were now six people ahead of me. This doesn’t make sense as I am getting further from the top of the list. This is when I submitted a written request for a copy of the list. The board is obviously not “transparent.”

What begs the question as to why this list is not made available is that: the previous president of the board has a dedicated space; the current president of the board has two dedicated spaces (he was grandfathered in for this extra space); and two former board members have a dedicated space, each. (The board consists of only seven members). The bylaws allow shareholders access to financial records maintained by the managing agent but are silent as to access to something like this list.

Any ideas as to what the best course of action is? I was told that if I was not happy with the garage situation, then I did not have to park there. Well, this response is disingenuous as there is no 24-hour street parking in existence.

                           —Irritated in Westchester

Read More...

Related Articles

Q&A: The Right to Know Who the Board Members Are

Q&A: The Right to Know Who the Board Members Are

Q&A: Lost Checks, Late Fees

Q&A: Lost Checks, Late Fees

Q&A: Accessing Maintenance Records

Q&A: Accessing Maintenance Records

Q&A: Requesting Financial Info From the Co-op

Q&A: Requesting Financial Info From the Co-op

Common Legal Mistakes

...and How Your Board Can Avoid Them

Your Board’s Legal Obligations

Fiduciary Duty, Disclosure, Meetings, and More

 

2 Comments

  • Do the president have the right to sign a contract with a management agent, when the shareholders do not agree? How many signatures supposed to be signed on a contract?
  • What can be done when amanagement of a co op makes it a rule for employees to be untruthful to shareholders particularly when it comes to maintaining the building and no one on duty to to maintain services