Time is running out for co-op and condo boards to compile and disseminate their first annual report under the state’s new conflict-of-interest law. The reports must list all contracts or transactions that were voted on by the board with an entity in which a director has a financial interest. The reports must be signed by all directors and include information on the amount and purpose of the contract, the recipient, a record of the meetings of the directors in which the contract was voted on – including attendance and how each director voted – plus the date of the vote and the effective date of the contract. Even if there were no contracts involving interested directors, that fact must be disclosed. The report must be distributed to all shareholders or unit-owners.    Read the article………………….