Tag: co-op boards
NEW LAW PASSED CONCERNING ELECTRONIC VEHICLE CHARGING STATIONS
There is a growing trend of new legislation that encourages the use of environmentally friendly energy sources.
In light of this trend as well as the increase of electric vehicles on the roads, the New York State legislature recently passed a new provision to the New York Condominium Act, (Real Property Law §339-ll) that restricts condominium Boards from prohibiting or unreasonably restricting unit owners’ installation or use of an electric vehicle charging station (“EVCS”) within the community.
Continue reading “NEW LAW PASSED CONCERNING ELECTRONIC VEHICLE CHARGING STATIONS”
New Conflict of Interest Law
The NYS Legislature recently passed a new law, signed by the Governor in September 2017, which purports to impose conflict-of-interest reporting requirements upon condominiums and cooperative housing corporations.
The law requires, first of all, that at least once each year, each “director” of a condominium or co-op board receive a copy of the Related Party Transactions section from the NYS Not-for-Profit Corporation Law (Section 715) or, for a co-op board, a copy of the Interested Directors section from the Business Corporation Law (Section 713). These provisions are similar to each other and prohibit boards from entering into contracts where a conflict of interest exists, unless the conflict has been disclosed by the interested director. Continue reading “New Conflict of Interest Law”
Individual Board Member Liability After Fletcher v. Dakota
The Dakota, one of the legendary co-operative apartment buildings in Manhattan, has long shunned attention.
Its Board of Directors has allegedly even denied the purchase applications of celebrities in order to avoid the publicity that accompanies high profile residents. Ironically, instead of fame, the Dakota has been plagued by infamy, most notably by the murder of John Lennon at its doorstep, and most recently by a discrimination law suit brought by a former Board president against the Board of Directors and two individual Board members.[i] Continue reading “Individual Board Member Liability After Fletcher v. Dakota”
Amending the By-Laws, Declaration, Rules and Regulations
The Board of a community association we represent is thinking of reviewing and updating the rules governing the community.
The question has arisen as to whether changes in the rules can be made by a vote of the Board or whether it would require an amendment to the By-Laws or Declaration.
Following in classic legal tradition, the answer to the question is… “It depends.” Continue reading “Amending the By-Laws, Declaration, Rules and Regulations”
Fairness in Cooperative Home Ownership
The Suffolk County Legislature recently passed a new Local Law entitled “A Local Law Requiring Fairness in Cooperative Home Ownership” that took effect on September 15, 2009 and was later amended, which amendment became effective on November 10, 2009.
A more appropriate name for the law would have been “Fairness in Purchasing a Cooperative Home” since the law deals with the application process. Most significantly, in the event a co-op Board of Directors denies an application to purchase a unit, the law requires the Board to notify the applicant, in writing, of the specific reason for the denial. Continue reading “Fairness in Cooperative Home Ownership”
