Q: We live in a co-op building. My husband is the shareholder. He was unable to attend a meeting and asked to have me be
We live in a co-op building. My husband is the shareholder.
He was unable to attend a meeting and asked to have me be his proxy for voting.
The co-op president says proxy voting is not allowed in our building.
It was our understanding that BSC § 609 requires proxy voting to be allowed.
Can a co-op disallow proxy voting despite
New York Consolidated Laws, Business Corporation Law - BSC § 609. Proxies. (a) Every shareholder entitled to vote at a meeting of shareholders or to express consent or dissent without a meeting may authorize another person or persons to act for him by proxy.
?
Thank you
A:
I'm so sorry your co-op's is giving you a hard time. Yes, you are correct in that the BCL governs corporations in New York, which most notably includes co-ops. Section 609 indeed allows for proxy voting.
I suggest your husband send a formal letter to your co-op' President setting forth his desire to appoint you as proxy along with a reference to and copy of Section 609. Absent an exception, which doesn't seem to apply here, they must allow proxy voting. A respectfully written letter goes a long way and gives him the benefit of the doubt - maybe he just doesn't understand this issue and had a knee jerk relaxation. Good luck!
Tim Akpinar agrees with this answer
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