Shareholder Quorum Requirement Cannot be Altered by Changing the Bylaws

Sterling Laurel Realty, LLC v. Laurel Gardens Co-Op, Inc., ___ N.J. Super. ___ (App. Div. 2016).  A majority of the board of the defendant residential co-op development became frustrated that it was repeatedly unable to conduct shareholder meetings due to lack of a quorum.  One reason for that was the coop’s sponsor, who still owned […]

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