Category: Law & Legislation

Law & Legislation
1995 Sep A Small Victory for Co-ops?

To be, or not to be [taxed]? That is the question. It appears that William Shakespeare had been posing the same question that treasurers and other board members of New York co-ops have been asking their accountants for the past five…

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Law & Legislation
1995 Sep Derivative Lawsuits

A cooperative is generally organized as a so-called business corporation, just like, for example, IBM or AT&T. Accordingly, shareholders of a cooperative have the same rights as shareholders in other New York business corporations to init…

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Law & Legislation
1995 Jun Reacting to Sponsor Default

tarting in the mid '70s and continuing through the latter part of the '80s, New York City was engulfed in the co- oping craze. As prices spiralled upward, owners of residential property were cashing in by converting buildings from rentals…

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Law & Legislation
1995 Apr Big Trouble at Big Six

Trust. It's a word often heard when board members and shareholders of Big Six, a 982-unit co-op complex in Woodside, Queens, talk about their former managing agent, Richard Stone, and what they think went wrong. Essentially, they say, we…

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Law & Legislation
1995 Mar Rights of Inheritance

Several months ago, I wrote an article for this column detailing the circumstances under which a cooperative board could legally discriminate against those wishing permission to either occupy or purchase the stock and lease of a cooperati…

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Law & Legislation
1995 Feb Provide Disabled Access

In a September 1994 decision applicable to many cooperatives and condominiums in New York City, the Appellate Division, Second Department, has determined that a cooperative housing corporation's refusal to expend funds to install a wheelc…

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