In "Budget Time — Gabrielle, Wed Sep 26 5:26PM", Gabrielle suggested that I post some of our coop's information and procedures, e.g.: self managed.
I added the items about a week ago under that posting rather than a separate thread if anyone has an interest.
renovation in coop in manhattan - the contractor is listed wihtthe city (they have a permit) as one company but the workers are actally from another company that has no license or insurance (friends of a staff member) - report to 311? the coop board is totally in denial.
Under BCL 712, the Board can appoint committees to carry out Board business (I included the law below) without the rest of the Board's approval. Do you have these types of committees? Or do you have informal committees that don't have approval power, and instead make recommendations to the rest of the Board for their vote? What types of committees do you have? I have heard of Boards having Financial, Legal, Building committees. Or do you not have committees at all, and instead the entire Board just hashes out each and every issue (making for longer meetings)? Do you allow non-Board members to serve on the committees?
S 712. Executive committee and other committees.
(a) If the certificate of incorporation or the by-laws so provide, the board, by resolution adopted by a majority of the entire board, may designate from among its members an executive committee and other committees, each consisting of one or more directors, and each of which, to the extent provided in the resolution or in the certificate of incorporation or by-laws, shall have all the authority of the board, except that no such committee shall have authority as to the following matters:
(1) The submission to shareholders of any action that needs shareholders` approval under this chapter.
(2) The filling of vacancies in the board of directors or in any committee.
(3) The fixing of compensation of the directors for serving on the board or on any committee.
(4) The amendment or repeal of the by-laws, or the adoption of new by-laws.
(5) The amendment or repeal of any resolution of the board which by its terms shall not be so amendable or repealable.
(b) The board may designate one or more directors as alternate members of any such committee, who may replace any absent or disqualified member or members at any meeting of such committee.
(c) Each such committee shall serve at the pleasure of the board. The designation of any such committee, the delegation thereto of authority, or action by any such committee pursuant to such authority shall not alone constitute performance by any member of the board who is not a member of the committee in question, of his duty to the corporation under section 717 (Duty of directors).
The Board is considering giving me a fine. Can a board do this? Fines are no where written in the proprietary lease, house rules, and amendments. Also, I thought fines must not only be mentioned but their amount must be stated and attached to the type of infraction (if there was any) claimed. Also, aren't fines enacted by shareholder votes and not the board?
leak in apt owned by sponsor and rented at market rate - not detected and repaired effectively for 4 weeks resulting in extensive property, mold damage and hotel bills for the occupant (who was travelling).
who should pay mold remidiation and detection costs? who pays for damages to the property (the renter did not have insurance) the coop or the sponsor? the sponsor is the direct landlord to the renter in this case, isnt he?
As we begin to talk about our budget we realize a maintenance increase is likely as past boards have not done so. Without crunching our numbers yet we have thrown around the likelihood of minimal increases that are in line with inflation over the next few years. Do your boards consider this at all? That is minimal routine maintenance increase just to keep pace with rising costs which seem much higher for cooperatives than for the average individual purchaser of, for example, consumer goods.
Thanks for all of your input. Our board changed our hours from Mon-Sat 8am-5pm to Mon-Fri 9am-5pm and Sat 10am-5pm. We also revised the holidays that we disallow construction.
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