Being elected to the board of a co-op or a condo comes with a great deal of power, and with that power also comes a great deal of responsibility. Whether they serve a co-op or condo community, trustees and board members, in their posit…
Tag: Corporate governance
Q My question is about being elected to the board of a condo association. We have a building management company hired by our board. Can the management company executive be elected to the board? How about any other persons from the comp…
Q I am on the board of directors in a Connecticut leasehold property. For some time, we have wanted to nominate one of our leaseholders but she keeps refusing to be on the board because she says that as a lawyer/ accountant, she holds h…
Q I am the vice president of our board. Just recently, we found out through a real estate ad that the president of the board is selling his unit. Does this pose a conflict of interest? In effect, should the president remain the presiden…
Q “Do the individual condo association board members and president have the legal right to remove a treasurer from his or her duties without due cause and deny a chance for rebuttal?” — Breaking Up is Hard to Do A “The…
Who Passes the Annual Budget? Q Does our condominium board of directors need to have our next annual budget passed by the condominium owners or can they pass it themselves? –Following Protocol A “In most s…
With only so many hours in the day, balancing the demands of work, family and outside obligations can become a struggle for anyone, and community association board members are no different. They volunteer countless hours guiding their …