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Can someone let me know if their building abides with this 2017 rule?
https://www.wasserruss.com/new-conflict-of-interest-rules-ny-condo-co-op-boards/
Our building this year had board members sign something but that’s it.
What about shareholders? Do they need to know about this and this is communicated to them regarding board members signing a document and also listing contracts, etc and maybe that is distributed to the shareholders?
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Also we have a sponsor on the board which makes it 7 and he rents and sells his units. Isn’t that a conflict of interest?
Also what about our management company they have a real estate company on the side and would communicate that to shareholders..isn’t that a conflict of interest or does the rule just apply to board members?
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