City Council proposes new rules governing co-op boards

It’s a controversial bill, with seriously divided opinions.

In a hearing summarized on Malcolm Carter’s Service You Can Trust real estate blog, the City Counsel of New York opened up discussions and objections to a proposed bill that would limit co-op Boards of Directors in their approval process for prospective buyers.

If you are a shareholder in a co-op or a prospective buyer of a co-op, you’ll want to read  about this proposed bill and the arguments for and against.

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