SCAM ALERT!

ARC has received the following SCAM ALERT! from the Council of New York Cooperatives and Condominiums:

A number of co-ops have received a notice (see: attached) from an entity calling itself the “Corporate Records Compliance Office” in Albany, stating  that under New York law, corporations must hold annual meetings of shareholders to elect directors and conduct other business. The form requests that co-ops list the names of all officers and directors and mail it back with a check for $120. It says that upon receipt of the money and the completed form, the co-op will be sent a “certificate of minutes of board of directors and shareholders” to file in the corporate minute book.

This notice is a scam.

“There is no reason that a cooperative — or any corporation for that matter — should complete this form or send in any money,” said attorney Marc Luxemburg, president of the Council of New York Cooperatives and Condominiums. “The company that is sending out these forms is not affiliated with state government, even though the form appears to be designed to look like an official form.”

In fact, Mr. Luxemburg said, on the bottom of the form is a disclaimer: “This service has not been endorsed by any government agency and this offer is not being made by an agency of the government. This is not a bill.”

THERE IS NO REQUIREMENT THAT ANNUAL MEETING NOTICES BE REGISTERED.

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