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I am a member of a 48 unit co-op where board members have used racial remarks. Recently they tried to discriminate against an applicant. What recourse do I have to protect myself if there is a discriminatory action against the board.
Join the Conversation Comments (2)Rosa, it's FIDUCIARY, not "fugidiary". Fiduciary comes form FIDES, Latin for FAITH. It means the moral and legal duties contracted by a person in whom we have deposited our faith and trust. All the board members have FIDUCIARY duties towards us shareholders, because they have access to our money, which they administer for our benefit, not theirs.
The fiduciary duties are not limited to finances. The actions of Board members must be for the benefit of the shareholders. Therefore, not only finances but rules, regulations, by laws and any other action of the Board.
One more thing you should check if they sue you personal for descrimination or any other violation of the law, I believe but I am not a laywer you should consult one, that the coop would not pay for your defense. You might have to pay your own laywer. Be very careful and protect yourself and the interest of all shareholders. Maybe those people should be removed from the board for descriminating and putting at risk the interest of all shareholders. There is no place for these people on the board and you should let all shareholders know so they remove them from the board.
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Esther I am not a lawyer and I suggest you stay within the law. Some board members believe they are above the law. There was a case against Goodman Management and I believe even the super paid a huge fine and maybe even went to jail. Descrimination is federal. Maybe request to record the votes. I understand if one member request it has to be done. Make sure is done. Try to consult a lawyer but not the coop lawyer. When it comes to descrimination, I understand, board members can be sue personally. Consult a lawyer and make sure you document everything. Stay out of it and make sure you let them know you are not part of it and your vote reflects that. Unfortunatly most board members think being on the board gives them a license to steal, descriminates, abuse shareholders and everybody else. Go to COOPABUSE.COM to read coophorror stories and to register. We are fighting to pass laws to protect our coop apt home. I used to be a real estate agent and while selling a coop in Yonkers, I had a perfect qualify buyer and the board did everything to disqualify her. They lost papers, made her submit them again, lost them again, she had to apply again for the approved mortgage, they kept on saying she did not qualify. I kept on asking why? They do not have to say why. The board only reacted when I said I will report this as a descrimination case to the human rights and the national association of realtor's. I even ask the buyer are you sure you want to live there. She said yes. She was a perfect buyer but she is black. Well the board got scared and approved her. She is there and she is making sure this things stop. You have job to do and it is not easy. We have no protection. Remember you owe fugidiary duries to all shareholders but it does not mean violating federal or any laws. Feel free to email me at ROSA.NAZAR@GMAIL.COM
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