Am I eligible to run for a positon on the Coop Board of Directors as spouse of a shareholder?
My wife purchased a coop prior to our marriage. Since our marriage, we have both lived in this coop. Is there a requirement that I need to be on the Proprietary Lease in order to run for a position on the Coop Board of Directors or to serve on a committee for our coop?
It would be standard for a corporate board member to be a shareholder.
All the best!
Kevin O'Shea
Homes of Westchester
Hi, yes usually only shareholders are considered for board membership, if you get your name on the lease then you'll most likely need to be on the mortgage as well. It's best to have your wife check with other board members, as every board does things differently.
Sincerely,
Christopher Pagli
Associate Broker
Legends Realty group
914.406.9023
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