Craig Owns Shares in a Cooperative and Leases an Apartment

question 18

Essay

Craig owns shares in a cooperative and leases an apartment from the cooperative. Craig wants to sell his shares and assign his lease to the new owner. The cooperative's board of directors tells Craig that he cannot do this unless they approve the new owner. Can the board legally do this?

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Definitions:

Upside Potential

The potential or likelihood for an investment, asset, or a business to increase in value or performance in the future.

Expanding Markets

The process of entering new geographic or demographic market segments to increase customer base and achieve higher sales.

Moderate Market Share

Refers to a company holding a fair but not dominating percentage of sales in its industry.

Dog

A domesticated carnivorous mammal, Canis familiaris, known for its loyalty and companionship with humans.