Courts affirm a co-op board's immense power under the Business Judgment Rule.
Written by Frank Lovece on June 20, 2014
A New York City court has ruled that existing State law forbidding private landlords from prohibiting day-care centers also applies to residential co-ops. The Housing Court decision, in a case involving a Bronx cooperative, invalidates a provision of that co-op's proprietary lease that says apartments can be used only as residences.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.