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Subject: Owner offers to provide small gym to HOA: reasonable response?
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Author Messages
AugustinD


Posts:0


04/03/2020 11:49 AM  
The following article sort of points out that Co-Op boards have more authority to do as they please, because Co-Op units are not owned by indivdiduals. As PaulJ6 pointed out, each unit has a proprietary lease associated with it. A Co-Op Board is legally more like a landlord than a Condo board.

https://meeb.com/legal-alets/cooperatives-vs-condominiums-distinctions-with-many-differences/

I am getting the impression that a Cooperative Board operates far more like a publicly held corporate board, with many shareholders. Fora major acquisition by the corporation, the governing docs might require a vote of shareholders. E.g. a merger of the corporation with another corporation. But for lesser acquisitions or assumptions of responsibility, I can see the Board having far more legal rights to do whatever vis-a-vis a condo board or a board for a HOA consisting of stand alone homes.

My responses in this thread might change considerably if I had more of a foundation in Cooperatives. For now, all I can say is that, if Co-Op boards legally are much more like landlords, then I can see how it is possible a board can make the decision to accept a treadmill or similar and assume the liability for it and maintenance of it.

In the future, I think it may be important to pound on how (1) this is a Cooperative and (2) they are notably different from condominiums. (Truth time: My first shared housing was in fact a Cooperative in the Midwest. I was aware at the time I did not own my unit. There was a movement to convert from a cooperative to a condomininium that, years after I left, was successful. The banks were raping the cooperative's shareholders with their stupid blanket mortgage arrangements. Or so it seemed.)
AugustinD


Posts:0


04/03/2020 11:51 AM  
Posted By MarkW18 on 04/03/2020 11:35 AM
We're waiting.
You're waiting. Please hold your breath as you do so.
MarkW18


Posts:1290


04/03/2020 12:03 PM  
Here are the CCRs for a HOA I once managed. I lived in the HOA right below having the exact governing docs and built by KB Homes. Show us what you're talking about.

http://www.mountainglenhoa.org/Portals/30/Documents/MTNGLEN_CCRS.pdf
AugustinD


Posts:0


04/03/2020 6:08 PM  
There's no "us" to it.
CathyA3
(Ohio)

Posts:1612


02/21/2021 8:42 AM  
I've reported the last two posts as SPAM.
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