Cooperatives and Condominiums

Business Judgment Rule: 24 Years Old and Still Intact

, New York Law Journal

   | 0 Comments

In their Cooperatives and Condominiums column, Richard Siegler and Eva Talel write that although there have been a number of decisions in the last several years refusing to summarily protect condo or co-op boards under the business judgment rule, the courts' reasoning has remained the same since the rule's inception. When boards act in good faith, within their authority, and in furtherance of a legitimate corporate purpose, their actions will not be questioned by a reviewing court.

What's being said

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article# 1202661589552

Thank you!

This article's comments will be reviewed.