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Our board president has been in power for 30 years, and we haven't had an election in forever. Some shareholders are looking to run this year for the first time in forever. There are many concerns:
- Management directed any shareholders turning in proxies to return them to the doorman. But the doorman have been instructed to hand deliver these proxies straight to the President's apartment
- Requests to the management for a list of who is running have gone ignored
- Libelous letters written by the Board president that paint the challenging shareholders in a very poor light have been put under all doors
Questions - can the board get away with "postponing" the election? What are our rights to challenge? Not receiving any replies from management...
Review your by laws and Certificate of Incorporation. They should tell you how often elections must be held and how many Board positions are up for election each year. They may also tell you about Special Meetings and perhaps circumstances that could postpone an election (like not having a quorum).
Have you contacted the co-op's attorney to ask these questions? Given the lack of elections for 30 years, there's probably something illegal going on. The lawyer can tell you more about it.
Has anyone considered running against the current President? It's not easy to do, but if you're dissatisfied with things, odds are there are others who feel the same way. Try to organize support behind the scenes for one new candidate that many shareholders would be willing to support.
The current President would be surprised and unprepared for such opposition, and that's your big advantage. But, you've got to mobilize the troops in order to succeed.
Best of luck!
We had a President who controlled the Board for years by accumulating proxies. Shareholders formed a slate of candidates and distributed flyers outlining key issues and gave resume information. And counter collected proxies. It was a success.
We suggest that you collect the proxies from your neighbors. You can bring those to the meeting and vote on your nominees. Feel free to call if you want to discuss 917.648.8151
yes i remember when our board pulled the same thing, the trouble is too many shareholders do not realize what the board is doing and that it is not proper .
remember the last dated proxy is the only one that counts. So you can knock on your neighbors door , explain what the board is doing, ask them to sign a new proxy with a later date. If their proxy (board)has the correct info , you can copy it and use it for your use, the later proxy is the only one that counts.
some boards playing this game tell the shareholder to leave the date blank, and here is where you need a real lawyer to speak up.
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It would be helpful if you could post the wording in the written instructions for the proxy, and the actual wording of the proxy. that could help determine the illegality of your election process.
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