Recent amendments to the Business Corporation Law and the Condominium Act have allowed New York City co-ops and condominiums to hold virtual meetings for shareholders and unit owners. As co-ops and condominiums begin to plan their annual meetings, the big question on the table is whether to hold this year’s meeting virtually or in person.
In an article for Law360, Braverman Greenspun principal and managing partner Rob Braverman analyzes the various factors boards should take into consideration when deciding on a format for annual meetings. In the article, Rob notes that “There is no doubt that virtual owner meetings for co-ops and condominiums are here to stay. However, it is also inescapable that, like the natural sound of a vinyl record, there are features of in-person meetings that cannot be replicated by a virtual platform.”
Read the article here.