Dennis Greenstein quoted in The Cooperator: The Co-op & Condo Monthly

Dennis Greenstein was quoted in an October 27 story entitled “Upholding Your Fiduciary Duty” in The Cooperator: The Co-op & Condo Monthly discussing the applicable laws and cases which state that cooperatives, condominiums and HOAs board members are obliged to act in the best interests of the community and its unit owners. Greenstein said that owners can bring derivative actions on behalf of the entity to recover damages caused by board members’ malfeasance. He continued that it could also lead to loss of insurance coverage protection and indemnification under the bylaws, as well as personal liability and judgments.