Leni Cummins explains why it is important for condo/co-op board members to govern in accordance with the corporate documents in The Cooperator. According to the article, straying from the rules can result in exposure to liability. 

“When [board members] deviate from their governing documents, it exposes the board to liability,” Leni said. “Therefore, as an attorney to many condominium and cooperative boards, most of my advice pertains to keeping those boards protected by the business judgment rule. This often means that I am called on to interpret occasionally ambiguous governing documents, or to amend governing documents.”

To read the full article, click here.