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| Author | Topic: Laws govern how Board of Directors announce and... |
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Leon (Moderator) |
posted 2/6/10 3:35 PM
Laws govern how board of directors announce and conduct meetings.... from an article by the local(Chicago Area) law firm of Kovitz Shifrin Nesbit: "Pursuant to §18(a)(9) and §18.5(c)(4) of the Illinois Condominium Property Act, and §108.21 of the Illinois General Not-For-Profit Corporation Act, meetings of the board of directors of an association (cooperative, common interest communities and condominium associations) are subject to a minimum of 48 hours advance notice and must be open to any owner unless the meeting is to discuss pending or probable litigation, to consider information regarding employment or dismissal of an employee or to discuss violations of the rules and regulations or unpaid common expenses owed to the master association. (It is my opinion, based upon a review of the case law, that the term "employees" would also include contractors.)" Read the whole article at... http://www.ksnlaw.com/?t=11&la=1154&format=xml&p=1672 |
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Leon (Moderator) |
posted 2/6/10 4:14 PM
"...constantly taking actions without open meetings or by acting illegally and then trying to ratify it at an open meeting. In those instances, the individual directors could be viewed to be acting outside the scope of their authority and could be liable for any damages suffered by approving an illegal act." more from "Executive or Closed Sessions, Published October 26, 2002 by Kovitz Shifrin Nesbit, a Professional Corporation===============================Leon's Summary -- The Board's governing actions/votes like changing the by-laws, spending / borrowing money, creating two classes of member/owners and using Co-op money to pay for trips,etc - must done at an open board meeting. |
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