Board Member - Resignation

[sunnyday02]

What is the name of your state (only U.S. law)? NY

Can a board member in a co-op be forced to resign because he did not want to sign disclosure forms for a big loan, even if he voted against a loan.
If yes, on which law or regulation this decision is made.What is the name of your state (only U.S. law)?

 

[You Are Guilty]

What is the name of your state (only U.S. law)? NY

Can a board member in a co-op be forced to resign because he did not want to sign disclosure forms for a big loan, even if he voted against a loan.
If yes, on which law or regulation this decision is made.What is the name of your state (only U.S. law)?

What does your Proprietary Lease and House Rules have to say about the terms of service of the Directors?

 

[LdiJ]

What is the name of your state (only U.S. law)? NY

Can a board member in a co-op be forced to resign because he did not want to sign disclosure forms for a big loan, even if he voted against a loan.
If yes, on which law or regulation this decision is made.What is the name of your state (only U.S. law)?

What information will be disclosed if he signs the forms? What makes it necessary to have HIS signature on the disclosure forms?

 

[sunnyday02]

What information will be disclosed if he signs the forms? What makes it necessary to have HIS signature on the disclosure forms?

The lawyer is asking about a board member personal information like: employment, criminal background, SS#, name and address of bank and personal banker name etc. According to layer that information is required by NYC HDC to get a loan and all board member are required to do that.
I voted against it and I do not want to sign this documents.

Can I refuse to sign the document that do not agree with? Can anybody force me to do that? Is there any law that protect me?

 

[You Are Guilty]

Yes, no and yes - the laws of nature. I believe it's call "free will".