The following legal documents delineate the rights and responsibilities of shareholders (as well as tenants and sublessees) toward the co-op and toward one another.
The By-Laws are a written set of provisions and directions for the running of the co-op. They cover topics such as how the board of directors is elected, when membership meetings shall be held, and other issues related to the governance of the cooperative.
The Proprietary Lease has the terms and conditions you agreed to when you became a shareholder. If you are a tenant or sublessee, these terms and conditions flow down to you as well, since you signed a tenant’s lease or a sublease, which incorporates the terms of the proprietary lease by reference.
The House Rules document forms an integral part of the Proprietary Lease. It focuses on residents’ rights and responsibilities toward one another and aims to preserve a high quality of life for all residents.
The basic content and format of the By-Laws, Proprietary Lease and House Rules were set up in the original Offering Plan or Prospectus issued by the co-op’s sponsor back in 1982 when our buildings went co-op. Over the years, there have been a number of Amendments to the Offering Plan.
As a resident of NaBors Apartments, you are also required to abide by all city and state laws relating to housing and home ownership. These can be accessed through the NYC.gov and New York State websites.
Finally, you are specifically required by the City of New York to fill out and sign the following two forms and submit them to the managing agent at the beginning of every calendar year: Lead Paint Notification Form and Window Guard Notification Form. These forms are mailed to all shareholders at the beginning of the year.