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Real Estate & Property Law

: New York City Landlord Tenant News

Q & A; When a Co-op Board Beats the Bushes for Votes

By By JAY ROMANO

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QAt a recent annual shareholders' meeting, my co-op had a vote to increase the flip tax. To pass such a change would require the affirmative vote of two-thirds of all outstanding shares. The tally was about eight percentage points short of the necessary 66.67 percent. In the days after the meeting, certain board members campaigned in the lobby to get votes from people who had not attended the meeting or submitted a proxy. During the next few days, the requisite number of votes was secured, and ...

Full post as published by New York City Landlord Tenant News on March 24, 2008 (boomark / email).

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