Do condo and co-op board members have to disclose conflicts of interest? (NY)

The state legislature recently passed a law that will make life a little more difficult, and legislators hope, a little less ripe for self-dealing, for co-op and condo board members.  “The law, which goes into effect January 1st, requires co-op and condo board members to disclose any potential conflicts of interests to their fellow owners annually, and if there is nothing to report, to distribute a report reflecting that,” says co-op and condo attorney Steven Wagner of the firm Wagner Berkow. “The law also requires that board members get a copy of the state corporation law governing conflicts annually.   Read the article……………

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