A. It is the managing agent’s responsibility to act as a board’s representative and liaison to the shareholders and unit owners. The agent, as a fiduciary, is subject to duty to act in good faith and so as not to bring “disrepute” upon the corporation and the board of the tenants. Fiduciary duty further obligates […]

A. The most frequently litigated areas are admissions to co-ops and condominiums, disclosure of grounds to withhold consent, discrimination, sales restrictions, bank foreclosure, sublets in co-ops, the right to sublet, roommate, holders of unsold shares, alterations, certificates of occupancy, warranty of habitability, house rules, pet policies, equal opportunities for handicapped people, flip taxes, and mortgage […]

A. Directors and Officers Insurance protects directors and officers of co-op and condos from personal liability against claims of breach of fiduciary duty, bad faith acts, misconduct or negligence, and cover acts that were properly performed while the board members and officers are acting in such capacity.
The policies do not protect officers or directors if […]

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