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How long does NYC coop approval take?

If youre financing, this usually happens 4-6 weeks after you sign the contract because the lending application needs to be completed first. If youre paying cash, the contract will usually say you have two weeks.

What do you need board approval for?

Actions Typically Requiring Board Approval Election of officers; hiring or dismissal of executive employees. Setting compensation of principal employees. Establishment of pension, profit-sharing, and insurance plans. Selection of directors to fill vacancies on the Board or a committee.

What does shareholder approval mean?

Shareholder Approval means approval of holders of a majority of the shares of Stock represented and voting in person or by proxy at an annual or special meeting of shareholders of the Company where a quorum is present.

What should the board of directors approve?

The board of directors most important function is to approve or send back for amendment managements recommendations about the future direction of the corporation.

What does approval of the board mean?

Approvals are the instances when a board of directors must approve a material action prior to its implementation. Formal board approval can occur during the meeting of the board of directors, especially when the approval will demand discussion amongst the board.

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