co-op board pres & wife appointed as sales/blgconflict. manager

[go22]

conflict of interest bd. pres. wife submits building mgr. application?

What is the name of your state? new york

the current sales/building manager of our cooperative is due to retire and the current president of the board is a realtor as is his wife and she submitted her application for the sales/building manager's position. her application is currently under consideration. they also reside in the same cooperative which he serves as president of the board of directors. isn't this a conflict of interest and not permissible because if the wife is appointed as sales building manager she would have to report to her husband who is seated on the board of directors as board president. please advise and kindly advise how this should legally be addressed by the shareholders at our next shareholders co-op board meeting of 1/19/2006 so we are not told by the co-op board president that this matter is not open for discussion, and thank you.

 

[go22]

would greatly appreciate a legal advisement

i was hoping this would be addressed and still hope that if at all possible i can receive an advisement whenever its convenient, and thank you in advance.

 

[HomeGuru]

What is the name of your state? new york

the current sales/building manager of our cooperative is due to retire and the current president of the board is a realtor as is his wife and she submitted her application for the sales/building manager's position. her application is currently under consideration. they also reside in the same cooperative which he serves as president of the board of directors. isn't this a conflict of interest and not permissible because if the wife is appointed as sales building manager she would have to report to her husband who is seated on the board of directors as board president. please advise and kindly advise how this should legally be addressed by the shareholders at our next shareholders co-op board meeting of 1/19/2006 so we are not told by the co-op board president that this matter is not open for discussion, and thank you.

**A: yes it may be a conflict of interest but it is not illegal.

 

[go22]

thanks senior member for you advisement reply

senior member i really appreciate your advisement, and thank you again for your expedient reply, and the wonderful free advice continued service your organization has provided to internet users regarding various legal topics.

 

[HomeGuru]

senior member i really appreciate your advisement, and thank you again for your expedient reply, and the wonderful free advice continued service your organization has provided to internet users regarding various legal topics.

**A: thanks.