at our annual meeting a shareholder asked the board about a response she received to a complaint letter. It concerned her seeing a approx 6 year old child riding his bike in the indoor garage, which has had a no bikes policy since it was built, or at least 31 years that another shareholder has been here. The garage is very cramped and tight , with poor sight lines, plus grease , antifreeze and other slippery substances. Lots of cars have sharp corners and trim that could easily take an eye out. The shareholder had complained about damage to her car that could have been caused by a bicycle. She saw the child with father learning to ride his bike in the garage and wrote a letter of complaint, as she should. The response she received stated that they were allowing this, and there was no house rule violation, as the board had changed the house rules t to allow the board members son to ride in the garage. The board never notified the shareholders of any change, so this was a secret self dealing change.
I couldn't believe the board and president actually arguing back at the meeting stating they were not going to change it, and keep allowing it. The president thinks he is king of the building now. It has gone from very bad to insane.
I, of course went ballistic hearing the board arguing back, and knowing the liability risk they had put the building under. Including loss of insurance, which = loss of mortgage
To top it off the treasure said that we could keep this change among ourselves and not tell the insurance company, which i would call insurance fraud.
To add even more to it, i had a go-pro camera on a chest strap mount, due to the presidents conduct towards me in previous meetings. He told his non shareholder son, who should not have been there, to stand in front of me and interfere with the meeting. I asked him if he was a shareholder and since he replied in the negative, i told him that he could not interfere with the meeting and shouldn't be at the meeting. The managing agent said he could be there,
it got more interesting, with the police and all, but this is enough. I did stand my ground with the police too, i refused to leave when they told me to Stating this was my building, my annual meeting, and i was a shareholder,this was my shared property. plus there were stickers all over the lobby stating you would be videotaped. , they backed off. This was a set up by the pres, when he told me i could tape and i said i would. Go-pro with the open sides pick up great audio, even whispered.
i still have to make sure that they have returned the rules to normal, or make the board and managing company solely responsible, without the coops insurance. i guess i have to write the AG, not that they ever do anything, but this is serious, and the pres with his controlling personality, would keep the secret change in effect for spite and to show power.
I call it a breach of fiduciary duty to the shareholders