The Condominium Act
This was brought up in the Bel-Air complaint and I have brought it up here in Soho Central. A foyer and leases were made in the building with no vote by the Unit Owners. In fact, the letters and action around the foyer are still in question by me and I will get to that as so much else with copies and a timeline which I find disturbing.
"Sec. 16. A condominium corporation shall not, during its existence, sell, exchange,lease or otherwise dispose of the common areas owned or held by it in the condominium project unless authorized by the affirmative vote of a simple majority of the registered owners: Provided, That prior notifications to all registered owners are done: and, Provided, further, That the condominium corporation may expand or integrate the project with another upon the affirmative vote of a simple majority of the registered owners, subject only to the final approval of the Housing and Land Use Regulatory Board."
*** comment received below ***
"fyi, it (investing funds, mortgage, leasing common areas, etc.) SHOULD BE APPROVED BY MAJORITY OF MEMBERS as per corporation code and condo act."
my comment: If so as it appears, the Board and all those in management with this knowledge are in violation of the laws. Beside the leases and seizure, there were two time deposits made and no vote taken. Do we have a reckless Board?
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