New York's Cooperative and Condominium Community
If a slate of candidates mails a letter to residents soliciting proxies, and any of them are ineligible due to term limits, is this action a violation of any law?
If a shareholder is actually elected who is ineligible due to term limits, is this a violation if any law?
What remedies are there legally? What type of legal action can be taken?
I agree with JG about contacting the AG's office and term limits in general. Contacting the AG, while a no-cost option, could take months to get any results. A better option (but one with a cost) would be to consult with an attorney who specializes in Co-op and Condo law. Do not ask the board's attorney because they work for the board and not for you so their response can be biased in favor of the board.
Which document specifies the term limits? Proprietary Lease, Bylaws, House Rules, other? Do you know if they were they in the original document or added as an amendment? I'm asking because I also find having term limits to be a non-standard condition. It's often difficult enough to get shareholders to serve on the board, let alone limit how long they can serve for.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Term limits were established several years ago with an amendment to the by-laws. Last year a mailing by a slate solicited proxies. One csndidate was ineligible and he ultimately withdrew, but no notification was given to shareholders until it became obvious at the Annual Meeting. Thus, proxies were solicited under false pretenses.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
So, the situation came up last year and the candidate withdrew. I doubt that the AG or anyone would take any action at this time. It would be a different story if the person was elected and is serving a term now.
What would happen if there were 5 positions on the board and only 4 candidates (excluding the ineligible candidate)? Would the board function with only 4 members until the next election?
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
The By Laws permit a minimum of three Directors. My post is in anticipation of the next Annual Meeting in March.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Do you know others in the building that share your concerns and are like minded? (2 others as you mention that you need 3 Directors). If you do, solicit their help and simply do a petition. You need to canvass the building and explain to people why you are petitioning for a new board to be put in place; no financials, elderly board members who don't understand what is going on, concern for all of your investments etc. You may be surprised at how many signatures you will obtain. Then simply present it, via a letter to the board a couple of days before the meeting or even at the meeting. If you get the majority signing; their out, you and your team is in. It takes work and effort, but it can be done.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
I don't think that petitions supersede shareholder share votes. Wouldn't obtaining proxies be the legal way to go?
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
If a group of shareholders want to re-elect someone who term has ended and the majority of them vote for this person, then I'm certain the person would get in regardless of the house rule or by-laws. On the other hand if you can get support of shareholders for a new board by canvassing, at the same time you canvass, ask for their proxy. I do not believe that there is a law against petitions. You may want to follow some of the guidelines here http://www.dos.ny.gov/lg/publications/CitizenGuidetoPetitions.pdf
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Got elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!
I guess you would have to contact the State Attorney Generals office with that question. I would like to think that the shareholders would not vote for the person if they are aware that there are term limits and this person should not be running. On the other hand, having someone with experience on the board is an asset, unless that person is self-serving, showing favoritism to specific owners or residents, etc. I've only seen maybe a half dozen prospectuses and didn't see term limits in any of them, but that doesn't mean some plans exist that do have limits.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.