Condo Q&A

Are co-op laws for distributing information different than HOAs?

Written by CondoAssociation.com | Thu, Oct 27, 2016 @ 11:59 AM

I reside in a co-op in Illinois. Since we fall under the Business Corporation Act, the interpretation of this law often falls upon an attorney for some topics that isn't addressed in our governing documents. Does anyone know the "standard" with private information, specifically distributing financials to all shareholders that details who paid and balances owed?