The board of directors has changed the resale policy without consulting with the rest of the shareholders and didn't even notify them after changing it. It is now much harder to sell/buy an apartment, because our coop is already an HDFC building, but the board decided to put even more restrictions (for example, the buyer cannot buy the apartment for cash and cannot have more than a certain amount of assets). Is it within the board authority to change the resale policy without the approval of the majority of the shareholders?Join the Conversation Comments (2)
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