Yes! Discuss the Voting process here.
Wednesday, July 23, 2008
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1 comment:
If it is decided we are going to possibly sell off the storage rooms there must be a vote.
Specifically, the co-op is a corporation. We have only so many shares. Most Corporations /Co-ops have extra shares usually left after an initial offering. 3 Hanover Sq. does not. The proposed storage rooms represent new shares. So we must issue new shares in addition to those that already exist to effectuate this plan. That makes it necessary to vote on the issuance of new shares that will be used to do this plan. So the vote on adding more shares will be a vote to sell off the storage rooms.
Posted by Rob
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