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Our board is debating a major construction project. There is disagreement about how quickly to proceed. At our last meeting, the vote to begin spending on the project passed by a slim margin, 4-3. The dissenting board members requested that the description of the discussion in the meeting minutes include their counter-arguments. I am the secretary and I agree, but wanted to ask the community for their thoughts. thanks KAK
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I served as my Board’s Secretary for 15 years. I strongly advise you NOT to include details of the opposing arguments of this vote - or any other vote.
Our attorney advised us that including details can only hurt the Board and the shareholders we represent in any possible legal action taken against the co-op.
So, let’s say your Board was discussing the possibility of renovating your lobby at a cost of $250,000 that would take 4 months to complete. I suggest writing your Board minutes as follows:
“The Board discussed renovating the lobby at a cost of $250,000. A motion was made to approve the renovation and passed by a 4 to 3 vote.”
That’s it. You’ve included the topic, the cost, and the vote. Your minutes are accurate and concise - and you’ve helped protect the co-op from future legal action.
If your Board disagrees with my suggestion, then ask your attorney for his opinion of what I recommended.
Good luck and please keep us posted!
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