The business judgment rule protects boards from second-guessing and legal challenges, but it does not apply to decisions outside their authority or made in bad faith, and it does not cover claims of discrimination. (Print: KNOW WHEN YOU’RE PROTECTED — AND WHEN YOU’RE NOT)
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returned by “Business Judgment Rule”
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ArticleTopicsColumn TypeIssue
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Business Judgment Rule and Board Member Protections in Condo and Co-Oop Disputes
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Best Defense
Boards' decisions, protected by the business judgment rule, face challenges. Local Law 97 compliance decisions, if reasonable, may be protected.
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Preventing a Mutiny
The business judgment rule protects boards, but it has exceptions, like decisions leading to owner revolts, which can have severe consequences.
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The Limits of the Business Judgment Rule
Boards cannot hide behind the Business Judgment Rule for every decision they make — especially the wrong ones.
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No Armor is Failsafe
What are the limits to the protections offered by the Business Judgment Rule?
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Business Judgment Rule: The Old Armor Still Works
Disagreements between the board and shareholders about whether to repair or replace can lead to a lawsuit.
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Business Judgment Rule
Marc Luxemburg on Levandusky vs. One Fifth Avenue
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Unreasonable Conduct
41 legal experts on game-changing laws, rules, and cases.
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When a Board Must Be “Reasonable”
What does it mean when a board cannot act “unreasonably”?
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Michael T. Manzi, Balber Pickard Maldonado & Van Der Tuin
Boards cannot create a policy on a whim and suddenly start levying fines.
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