Conflict of Interest
Wed Jul 15, 2009 13:05

The new board of directors of my coop recently voted to rescind the monthly fee for use of our bike room. Every one of the current board members stores a bicycle in the bike room. Since each of them has a personal financial interest in the matter, are they barred from voting on it?

    • Boards set policies Treasurer, Wed Jul 15 13:34
      No. Board members are shareholders in the corporation, right? If you applied your argument to anything financial, the Board would be unable to act. They couldn't set a budget, approve an expenditure, ... more
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