Legal Question in Real Estate Law in New York

I am told that as a tenant-shareholder of a coop in New York City I am entitled to receive a list of all my fellow shareholders, their addresses, and the names of the board members. Unfortunately, the President and managing agent are not willing to give me this information f


Asked on 1/05/13, 6:06 pm

2 Answers from Attorneys

Kevin Connolly Kevin J. Connolly

Sue them.

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Answered on 1/05/13, 6:11 pm
Paul Vaygen Law Offices of Paul A. Vaygen

First, you should read your cooperative corporation's bylaws and offering plan to see if there are any restrictions on obtaining such records. If there are no specific restrictions, then, as a shareholder, the law gives you the right to obtain these records upon 5 days' written demand to make them available to you or your agent during usual business hours. The demand must also state the purpose of your request, which must be reasonably related to your interest as a shareholder.

The corporation may deny your request if they ask you and you refuse to sign an affidavit that the inspection is for a purpose other than the business of the corporation and that in the last 5 years you have not sold or offered to sell any list of shareholders of any corporation or helped anyone else obtain such records for sale.

If you do what is required by law to obtain the records and the coop still refuses to give them to you, you may file an order to show cause in supreme court (a simplified procedure) or file a lawsuit.

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Answered on 1/05/13, 8:18 pm


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