Millions of Americans were sold on the idea that by buying a cooperative apartment they could fulfill the American Dream of home ownership and gain more control over their lives, residences and finances. Unfortunately, due to shortcomings in state laws, and unequal application of those laws for cooperative corporations formed at different points in time, large numbers of resident shareholders are denied the benefits, rights and protections enjoyed by newer cooperatives--violating the Equal Protection clause of the 14th Amendment of the U.S. Constitution. Federal law should require that any amendments to laws governing cooperative apartment corporations be uniformly applied to all shareholders of the same class. All shareholders should have the same rights to amend their by-laws.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
