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FORM_BCL 727 Disclosure – Board of Directors (Cooperative)

By Adam Leitman Bailey


[INSERT CO-OP LETTERHEAD]

ANNUAL REPORT

 DISCLOSURE OF CONTRACTS WITH INTERESTED DIRECTORS

This report is being furnished in accordance with Business Corporation Law (BCL) Section 727, which requires the Board of Directors (the “Board”) to disclose any contracts involving “interested directors.” Interested directors are directors affiliated with, or who have a substantial financial interest in, a company who is a party to a contract with [co-op name].

The Board awarded the following contract(s) to parties in which a member of the Board was an “interested director”:

  1. [Recipient] [Amount] [Purpose] [Date] [Term]
  2. [Recipient] [Amount] [Purpose] [Date] [Term]
  3. [Repeat above as necessary for all “interested” contracts requiring disclosure]

Voting on the above contract(s) was taken as follows:

  1. [Identify contract]:
    1. Date of Board Meeting: _______________
    2. Directors Attending: __________________
    3. Votes for and against contract (by Director): _______________

Very truly yours,

BOARD OF DIRECTORS OF [CO-OP NAME]

________________________________                  ________________________________

________________________________                  ________________________________

________________________________                  ________________________________

________________________________                  ________________________________

[all directors must print and sign their name]

[INSERT CO-OP LETTERHEAD]

ANNUAL REPORT

DISCLOSURE OF CONTRACTS WITH INTERESTED DIRECTORS

  This report is being furnished in accordance with Business Corporation Law (BCL) Section 727, which requires the Board of Directors (the “Board”) to disclose any contracts involving “interested directors.” Interested directors are directors affiliated with, or who have a substantial financial interest in, a company who is a party to a contract with [co-op name].

No actions taken by the Board were subject to the annual report required pursuant to Section 727 of the Business Corporation Law.

BOARD OF DIRECTORS OF [CO-OP NAME]

________________________________                  ________________________________

________________________________                  ________________________________

________________________________                  ________________________________

________________________________                  ________________________________

[all directors must print and sign their name]

Original Form

Adam Leitman Bailey, P.C.

NEW YORK REAL ESTATE ATTORNEYS