New York's Cooperative and Condominium Community
the managing agents are often more corrupt than board members. this is without doubt the situation in my co-op. some board members are too busy with their careers so they leave building business to the managing agent or, in some cases, board members are just naive.
there is a lot of passivity in my building too. most shareholders have busy lives and don’t want to get involved in what they pass off as ‘politics’.
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The monthly report will show which shareholders are paying sublease fee's and garage parking fees. It may be possible to find discrepancy, such as people who should be paying the sublease fee's but are not, the same with parking. You may notice that a board member is paying for one space but has three. This will not show up on the yearly annual report.
I have a situation where they are in cahoots, and most likely the quid pro quo is a daily function of their lives, Since the AG refuses to take action to uphold the laws of the state, they are running wild, unless one has a lot of money they want to front for a lawyer and more importantly , will if found in violation of all the self dealing ,fraud, corruotion BCL's will the shareholder be reimbursed for all the legal expenses, or in my case be bought out so i can have peace of mind and not worry about embezzelement since the board does not perform any check and ballances, that have been published in the co-op mags. Meanwhile even though my prop lease states i can view the fincials during normal businees hours at the mangment company, they refuse me , zero transparancy is the name of the game and we know what that means.
I did write the AG office and my state senator concerning the information published on the AG co-op site that was incorrect , the memo from 1987 concerning holder of unsold shares, and the discreapacys between the info that the AG says need to be provided for the shareholder names in BCL 624b,think B.
and the other stufff such as affaidavits that many cooperation lawyers state must be provided, by the shareholder, somehow i thing if you went into court with the AG's requirement page, you could make your affadavit right there and then. Sounds like a pure delaying and hoping you go away BS manuevar and the coop lawyer should be levied a fine.,
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