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That is a good question. I would like to know the answer. What is the penalty for? We are all on a fixed income pretty much. Everything is going up but the pay check! Please continue comments. I read them!
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I always ask: Who polices the Board?
Who says they follow all the rules?
I’ve lived in two co-ops and both I’ve seen board members do things wrong (not all of course). They have to practice what they preach because then there’s NO respect towards them.
Can I ask election independent company count ballots and votes in front of shareholders. Can shareholders control them on time when election in process (2 HR)
250 units.
In my old co-op we had the management company and random shareholders at the annual meeting help (3 were selected) and count the votes so that makes it fair. Ask for that and make it something that happens each year.
Pooh - In my old co-op, we had 3 volunteers and the attorney count the votes - just so no one could say that the mgt company was possibly biased. The system worked well with no problems.
BTW who's going to pay for that? The count can be done in front of SH. But what is the rush? why should they be timed?
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I don't know anything about Mitchell Lama co-ops, so I can't speak to any specifics about them. Generally speaking, for other types of regular co-ops, the By-laws and proprietary lease (aka the Occupancy Agreement) take precedence over the House Rules.
That's because they are legal documents that specifically outline the shareholder's and corporation's legal obligations. House Rules are usually applied to quality of life issues that affect the co-op's shareholders.
If a penalty is specified in the House Rules and (very important) is applied equally and fairly to all shareholders by the Board of Directors, then the Board has the right to impose a penalty. If you think the penalty is excessive, I recommend that you ask the Board why is the penalty in that amount. Let them explain the rationale behind the penalty.
It's possible that a penalty for one offense can be higher than another offense. That's because the possible financial impact to the co-op of the first offense (ex - a renovation that goes wrong and affects the structure of the co-op) might be much greater than the financial impact of the other offense (ex - littering). So, the co-op is trying to protect all shareholders by letting everyone know in advance what the penalty will be.
I hope this helps. Good luck and please keep us posted.
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