COOPERATOREVENTS NEW YORK EXPO. TUESDAY MARCH 4TH . NEW YORK HILTON MIDTOWN. REGISTER NOW!

Q&A: A Receipt for Maintenance

Q&A: A Receipt for Maintenance
Q Do we, as a co-op collecting maintenance, need to comply with a shareholder’s written request, pursuant to RPL: Article 7 Section 235-e for written receipts for maintenance paid by personal check? Does this section even apply to maintenance? Would the same be true for assessments?

—Jackson Heights Director

A According to Thomas D. Kearns, an attorney at Olshan Grundman Frome Rosenzweig & Wolosky LLP in Manhattan, “I could find no court decision applying RPL: Article 7 Section 235-e to a co-op but I believe a co-op would be required to issue a receipt for a payment of maintenance or an assessment made by check if the request for the receipt is made in writing. The statute does not provide a penalty so it is unlikely that the co-op would have any significant liability for refusing.”

Related Articles

A flat vector illustration of a coworking meeting in the office and working on a project, showing the presentation, data, research, etc.

Q&A: Co-op Annual Meeting Requirements

Q&A: Co-op Annual Meeting Requirements

A dog, who serves as an emotional support animal, is lying on a bed after spending most of the day moving into her new home, a college dormitory.

Q&A: Pup Papers, Please

Q&A: Pup Papers, Please

Flat 3d isometric businessman standing with folder with lock. Data security concept.

Q&A: Rights to Docs

Q&A: Rights to Docs