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Anna Brocco's Blog

By Anna Brocco | Broker in Nassau County, NY

Shareholder's Digital Rights


Shareholders’ Digital Rights

 

Now that most television signals are digital, can shareholders require that the expense of a “common (usually rooftop) antenna, to convert the entire building to digital, be assumed by the co-op as a “common” expense, i.e., shared by all the shareholders? Generally a co-op board is given discretionary power, under the by-laws and proprietary leases, to originate or terminate “common” services. The board may be influenced to install such a converter with “significant” shareholder interest, but, absent a by-law shareholder voting requirement for such decisions, the board would not be required to act at the request of shareholders, even a majority, in such instances. Shareholders’ remedy would be in the election process.

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