Legislators (Again) Seek to Govern Actions of Boards of Directors
Once again there are those in the New York State Senate and Assembly who would seek to restrict and control the autonomy of the cooperative boards of directors. Year after year they (and others in the City Council, as well) introduce similarly restrictive legislation in the hope that the unwary may allow the bills to slip through.
The new bills (A10084 and Senate Bill 7523) contend that new provisions are needed to, “ensure uniformity and predictability to the application processes” used when potential homeowners seek to purchase cooperative apartments.
Read more