Dennis Greenstein Quoted in The New York Times
“When the Co-op Board Upholds Religious Rules”

Dennis Greenstein was quoted in the real estate Q&A column of The New York Times on September 19, 2008. The letter writer wanted to know the legality of religious rules in a publicly held co-op, after discovering that their co-op operated Sabbath elevators.

Dennis answered that the state’s Business Corporation Law and the proprietary leases of virtually all co-ops grant the board of directors the right to enact rules about the operation of the building. Dennis noted that under the business judgment rule “it is unlikely that a court would overrule the board’s decision about the operation of the elevators or that its actions infringe on a shareholder’s constitutional rights.” He further noted that prior to purchasing the apartment, the letter writer had the opportunity to obtain information about the operation of the building and that they could have decided then whether or not to proceed.