The whole concept of coops was promoted with the idea that people who are owners will take better care of their building and watch out for problems, plus be involved in making sure that the board is conducting business properly, and they are also all checking the finances, not leave it up to one person, who could be embezzling for years and also be judgement free.

None of the non shareholders owners can not vote, nor can they speak at the annual meetings. The co-op i am in also has this problem, =it is approx 50% owner occupied now. This also gives the president an advantage ,since if he is letting these apartment violate par 14 the "and" clause, and also not charging them sublease fees, guess who the proxy votes will be for. The person that is accommodating the non owners while the value of the property decreases. An apartment that is 90% owner occupied will get a higher price and be easier to sell then a bldg with 50% owner occupied.
However our co-op president just lies, he says that apartment that have been vacant since 1983 are owner-occupied, as are the sublets by childrem of the owner, with the owner never moved into the apartment , not for one day. he calls those owmer occupied too. The last twp nuyer were told the building was 90 to 95% owner occupied, it has never been near 90%. Not one of these relatives of the owners gets involved.becaise legaslly they really cant, they are not the shareholder.
It a disasoer that need to ne addressed.
Ithos and other items that are against the BCL , which the AG refuses to act upon, including shareholder list and ability to see the financials if your proprietary lease states so.
send a bullet point list of all the problems the shareholders are facing. Violations of the BCL, self dealing, fiduciary irresponsible by allowing sublet which lower the value of the building. Send them to the Morlend committee, the DA on long island that is one of the heads in the investigation, and wnyc web page has a page of information on it . Start making it known every way possible. The AG signed off and approved the conversions, it is their job to enforce the cut and dry BCL's, like the shareholder and financials, .but they tell us to hire a lawyer to do their work
Commenst@morelend.ny.gov , is a way to bring all these cash cow building while the shareholder gets robed. i wrote them mpnths ago and they called 3 days before the end of the hearings, on Nov 27 th,I take that as a CYA but we dont want to hear anything, So i will let the DA involved know and all the newspaers, and all those co-op owners that think they have protection by the AG.