New House and Finance Committee Forming, shareholders wanted

These post are my personal thoughts and comments only. They refer to my extreme displeasure that I am now looking for a new place to live after 28 years here, since I will not live in a building with a board president and managing company that refuse to follow the Business Corporation Law and our co-op proprietary lease and By-Laws. The rest of the board, have not functioned. The owner-occupied ratio dropped from 80% to about 50%.

Thursday, November 13, 2008

how to handle problems with a co-op board

NYS Attorney Generals CO-OP FAQ
Posted by mike piedell at 11:29 PM No comments:
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Labels: dicrimination, fiduciary, sidedealing

A New Board Member Asks to See Old Minutes - Real Estate Q&A Blog - NYTimes.com

this is from a co-op legal question article in the NY times, this is something the newer board members should be aware of, they have the right to look at any document t since incorporation.
A New Board Member Asks to See Old Minutes - Real Estate Q&A Blog - NYTimes.com
Posted by mike piedell at 8:50 AM No comments:
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mike piedell
yonkers, New York, United States
Original resident before co-op conversion. Read your Proprietary lease. Read your co-op by-laws. Those are the documents with the true facts and rules. Every new shareholder should have been given a CERTIFIED copy of the proprietary lease and by-laws and parking rules. I had spoken to a board member he said he never received a copy of the parking rules, another said they were outdated, they are not, in fact they are written into the BY-Laws,which the Board cannot change without a super majority ruling of the shareholders. These BOD members did nothing to correct the problem, this is known as not doing their fiduciary duty, their has been a lot of that going on. If you did not receive them,best to send a certified letter with a return receipt> i believe that services will be available for sending cout accepted letters> A fax is better than a letter since they will say they never received either. With a fax you have a receipt. The owner occupied ratio is probably less than 70%. There are some great buys with Hudson River FULL views <
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