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What do Board Members Need to KnowJan 31, 2019

How can you run a cooperative if you are not privy to: contracts of vendors, parking lists, age and condition of roofs,elevators, plumbing, and electrical systems? How many sublets in house and when to stop to prevent too many? Employees live and own apartments on site but won't start working until 8:00 AM; because they're union. The siper and asst. super rent out apts they own to live rent free. Our attorney has not directed board members on proper orientation of does and don't to be effective. So who is getting the better deal?

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What do Board Members Need to Know - H. Feb 01, 2019

Are you asking as a Board member or asking as a nonBoard shareholder? Board Directors are entitled to whatever infornation they need and their attorney can’t limit the scope.

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> Join the conversation Comments (2)
Board members need to know - Marty Feb 01, 2019

H's comment makes sense. I'm trying to make sense of the original rant and I can't. Sounds like the OP is a non-Board member who has no idea of what being on the Board is all about. If he is a Board member, then he needs to be educated ASAP.

"Employees live and own apartments on site but won't start working until 8:00 AM." If their start time is 8AM, why would you expect them to begin work prior to that time?

"How many sublets in house and when to stop to prevent too many?" What do the by laws allow?

"The super and asst. super rent out apts. they own to live rent free." If they own apartments, do the by laws allow them to rent them out? If so, then it sounds like they're not doing anything wrong.

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What do Board Members Need to Know - Unosay Feb 02, 2019

You asked if it was for a board member or non board member? It is for both as it appears the board doesn't fully understand their rights as a board member. It appears that a handbook needs to be introduced to educate board members what they are privy to and what not to do. Sharing confidential information with other shareholders about a pending lawsuit by a shareholder at a annual meeting is not correct . What is mandatory for board members to know is needed especially new members and why attorney doesn't help educate them instead of allowing them to do whatever they please???

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