The big bad board: How do we replace our entire condo board?
Herrick partner, Andrew Freedland, was quoted in a Brick Underground article that answered a question a reader raised about what steps unit owners in a condominium can take to replace the entire building's board of directors.
The article notes that replacing the entire board can be complex. One step shareholders can take is becoming familiar with the bylaws of their building. These guidelines should highlight how to move forward with the process of replacing the entire board. This may be done by calling a special meeting or waiting for the building’s annual meeting to elect a new board. If possible, it might be simpler to put off a takeover until the annual meeting, says Andrew.
"Typically, it's probably easiest to wait until the annual meeting, if you want to bring in a new board," Andrew explained. "It also gives you some time to plan."