Typically, a co-op board advises the management company how to act, but when they’re in conflict you may need an attorney to help you navigate, our experts say.
“In most instances, the management company acts as an agent for the cooperative and its board of directors. The management company’s authority is typically spelled out in their management contract,” says James Woods, Esq., managing partner at Woods Lonergan. “Ultimately it is the board who can direct the management company to act, including the payment of funds on behalf of the cooperative.”
About the Author
James Woods, Managing Partner of Woods Lonergan, holds more than 25 years of experience in corporate, real estate, and business legal matters. His expertise in handling negotiations, litigation, jury trials, and all forms of alternative dispute resolution spans multiple areas, including corporate, real estate, and commercial litigation. James actively represents dozens of Cooperative and Condominium Boards and serves as counsel to many Corporate Boards. Prior to founding the firm, James proudly served as an Assistant District Attorney for Nassau County and handled both jury and bench trials. With experience that also covers sophisticated transactions and complex acquisitions, James also serves as counsel to several domestic companies in a range of industries and commercial arenas, including real estate, insurance, banking, transportation, and construction. If you have any questions about this article you can contact attorney James Woods through his biography page.
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