SHERBANSKY v. 117 W. 81ST ST. TENANTS CORP.


238 A.D.2d 246 (1997)

657 N.Y.S.2d 14

Rudi O. Sherbansky, Respondent, v. 117 West 81st Street Tenants Corp. et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

April 22, 1997


The order of February 1996 properly divested defendants of voting control of the board. The sponsor is permitted to hold a majority of board votes only during the initial five-year period (see, Matter of Welco Assocs. v Gordon, 174 A.D.2d 58, 63, lv denied 79 N.Y.2d 754), and after the five years have expired, the sponsor cannot use its voting rights to elect a majority of...

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