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Co-ops and Condominiums
Business Judgment Rule Protects Parking Fee Determination Frankel v. Board of Managers of the 392 Central Park West Condominium 2019 WL 5982911 AppDiv, First Dept., 11/14/19 (memorandum opinion)
In an action by condominium unit owners to inspect the condominium's books and records, to declare an election void, and to declare that parking fees must be set by a vote of the unit owners, both parties appealed from Supreme Court's order, which denied the board's motion to dismiss the claims for inspecting books are records and invalidating the election, and granted dismissal of the claim with respect to parking fees. The Appellate Division affirmed, holding that factual disputes precluded dismissal of the first two claims, but agreeing with Supreme Court that the business judgment rule protected the board's determination setting parking fees.
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