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Co-op and Condo Webinar Series, Part V
"Point/Counterpoint Debate on the Merits of the Business Judgment Rule. Does It Confer Too Much Power on Boards and Does It Leave Too Much Room for Abuse?"
The Business Judgment Rule is one of the most consequential doctrines in cooperative and condominium law. It is also one of the most controversial. In “plain English” it says that boards can be as stupid and as frivolous as they wish in their decision making, but unless their decisions are contrary to the association’s governing documents, violate statutory or case law, reflect bad faith or breach of fiduciary duty or do not serve a valid corporate purpose the courts will not review their actions.
Has the time come to re-evaluate the premise underlying the Business Judgment Rule, especially in the context of post Covid-19 realities?
This webinar will review the fact patterns underlying some of the more extreme applications of the Business Judgment Rule and examine, in point/counterpoint format, the continuing appropriateness of the doctrine.
Bruce A. Cholst, Esq.
Andrew B. Freedland, Esq.
Devin W. Ness, Esq.
NY 1.0 PP
NJ 1.2 General “presumptively approved”
This program is appropriate for both newly admitted and experienced attorneys.
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