Shapiro Gettinger & Waldinger, LLP
Call now to begin a consultation
914-595-1468
  • Facebook
  • Twitter
  • Linked In
  • Google Plus

QUESTION/ANSWER BY JOHN H. GETTINGER, ESQ.

Question:

Please help me interpret this: subject to any limitations imposed by law, by these amended Articles of Incorporation or by the Declaration, the board of director is hereby authorized to exercise, all the power of the Corp. w/o prior authorization or subsequent approval of the members of Corp.

Answer:

Pursuant to the association's by-laws and applicable law, the board of directors has broad powers and authority to perform all acts and things necessary or proper to manage and operate the affairs of the association and its property. The board is only restricted in that it cannot take any actions which (i) pursuant to the declaration or by-laws requires approval of the homeowners (for instance, some by-laws require approval of the homeowners to borrow money, to expand money in excess of a stipulated amount for improvements, to remove directors, etc.), and (ii) violate applicable law.

No Comments

Leave a comment
Comment Information