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Habitat Magazine Business of Management 2021

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Business Corporation Report 727Aug 14, 2021

Hi all, Since its inception, has anyone received the BCL 727?

Thanks

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BCL 727 - Pooh Aug 15, 2021

As a shareholder we have never received this with our annual report or even discussed this with the shareholders. Our attorney did speak on this when we had the election with the new board members this year but only the board members that were on the board last year signed this and not any new board members but my understanding is that shareholders should receive a copy.

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Business Corporation Report 727 - NYC Aug 15, 2021

Thank you for your quick response. I previously asked this when the law was first enacted. I believe because the law is completely silent on enforcement and oversight, and does not contain any penalties for violations", boards are not adhering to this law. It seems like a shareholder would need legal intervention in this matter as in other BCL laws that are not being adhered to by the board. Thanks Again.

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727 - Pooh Aug 15, 2021

But to me it’s the co-op’s attorney to inform the board when there are new rules and regulations and if the board doesn’t do it then it’s their fault and then the shareholders needs to demand it or get new board members and even a new attorney if he’s not doing his job right. Our attorney only told the board this year about this but it’s been implemented for a few years already.

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