I sublet my apartment with board approval. I paid amount that was listed on my monthly statement each month which included a fee for sub-letting. Unbeknownst to me apparently the fee was too low and the new management company has tacked on over $1600 in uncollected fees. Do I have to pay this when I have statements showing I had a zero balance?
As the owner of shares of a coop, and a shareholder of a corporation, you (sort of, kind of) have to follow what the board of the corporation tells you, as far as the fees go. It's not like complaining to Con Ed when they make a mistake in your bill, because Con Ed will actually listen to your complaint and try to resolve it. Not so with the Board, except if they really and actually misread their own rules. After all, their rules are your rules; welcome to shareholding !!
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