How Director Protector® Reduces Your Personal Exposure.

The New York State Legislature and Courts adopted the Business Judgment Rule to effectively shield co-op boards and board members from most liability for actions taken in good faith on behalf of a cooperative apartment corporation.
Director Protector™ helps ensure that the Business Judgment Rule works in the best interest of co-op directors by implementing sound and uniformly applied practices.

First, a comprehensive review of an apartment corporation’s current systems and policies is conducted by Borah, Goldstein, Altschuler, Nahins & Goidel, P.C. The review includes an intricate and multi-step audit of cooperative apartment corporation board operations. Among the many areas scrutinized are admissions, subletting, alterations, pets, meetings, finances, shareholder communications, corporate governance, and construction management.

Next, suggestions are made by the law firm for the reorganization of board functions in order to improve upon, adopt or put into place consistent and tried-and-true practices designed to reduce the risk of board members. Borah, Goldstein, Altschuler, Nahins & Goidel, P.C. also acts as liaison with an apartment corporation’s managing agent, accountant, insurance broker and engineer, further protecting the interests of the co-op board.

Whether your board employs regular legal counsel or not, Director Protector™ could make a vital difference in establishing and maintaining a strong defense that can be the deciding factor in protecting the personal assets of co-op directors.