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In our cooperative the management company seems to make most decisions and sit in our board meetings, is this legal? Can members challenge the board of directors?
Join the Conversation Comments (2)Hi PhilC, the board is the boss and makes the ultimate decisions. The managing agent is one of the board's several trusted advisers and as such, they need to be present at the meetings to report back and advise. All shareholders can certainly run for the board. We have experience working with shareholders that nominated themselves, you can reach us at 917.648.8154
It's typical for the manager or a rep from the management company to sit in on Board meetings - they're an essential piece of the monthly process.
If the Board is not making the decisions and the Manager is, that's a problem - it could be that since you're not in the meetings that you're assuming they are overreaching, but may not be. I would talk to the Board and ask them what their operational protocol is and how they make their decisions. The management company should bring the Board options based on the Board's prior requests, give their opinions, and then the Board is the entity to make the decision. The manager shouldn't be the one to make the decisions.
If you're unhappy with the Board and the way that they operate, you can throw your hat in the ring for the next election to join the Board and get the inside look.
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Sure, you can stand for election at the next annual meeting. Be prepared to give a little speech about your concerns, what you would do differently, etc.
It does seem that management companies and boards often form little mutual admiration societies with each other, and forget entirely about the vast majority of shareholders who are funding the whole thing.
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