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Question remains unanswered: 22 families are shareholders in a co-op in upstate new york. Some ae in arrears. Can we know who?

New York, NY |

As shareholders we believe we are entitled to know the names of those in arrears so that we can work towards a solution for helping them and staying financial sound. Some think we are not entitled to know who these other shareholders are. Who is correct? We do not have an outside maintenance company involved, it is just 22 families who own shares who handle all the co-ops business and so many of us believe we have the right to know who may be endangering our community by being in arrears. We need to work towards the future but feel we cannot without knowing exactly what our financial future looks like.

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Attorney answers 2


Sorry no one responded to your query.

It is a niche question and typically the first place to find an answer would be in the shareholder agreement itself.

If no one responds here, I suggest that you reach out to a local lawyer that works in real estate law and has an understanding of co-op governance.

You can search for a lawyer by going to the "find a lawyer" tab up top and most of us here, including myself, offer a free phone consult.

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Frank is right. The shareholder agreement / bylaws would typically be the place to start to find out your rights. You can also ask the board of directors. Good Luck!

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