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Can a Co-Op Board Make Autopay Mandatory for a Deadbeat Shareholder? (NY)

/ Owner - May 20, 2024

A board member at a 10-unit Harlem co-op has a problem and a question. The problem is that one of the 10 shareholders never pays his monthly maintenance on time, which, in such a small building, puts a strain on the other nine shareholders. The two-pronged question is: Can the board require the deadbeat to set up autopay? And how can the board legally compel him to pay up on time?   Read the article…………………………….

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