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Mishandling fundsFeb 08, 2013

I have a situation where the President who self managed the building without any other officer in other words there was no other member on the board but herself, There is only 5 shareholders , She self managed the bldg for 4 years straight with no minutes in this 4 years but my main concern for writing is because we viewed the bank statements and she has withdrawn over 25k via atm machine and she was still voted in as a Treasurer and with UHAB urban housing assistance borough help,2 of the shareholders including myself demand that she step down and inform of us of where the funds of our building went, She never responded and continues to collect rent and have authority of our bank account once again what can we do its only 2 of us that care the other 2 no disrespect but is not that educated and really does not care these elderly ladies are all friends and have no concept of what an hdfc coop is , Please help us 2 that do care what can we do to remove her? To have her explain these withdrawals ?

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