Does the board maintain that the co-op should be only as transparent as required by Massachusetts corporate laws? The board recently denied a request for figures on managers’ salaries, and we’re still trying to understand why. Here’s the latest follow-up request, submitted by nine owners.
What should transparency mean at our co-op? There’s not necessarily a simple answer to that. But at the moment, we’re finding out what it means in practice. Our co-op bylaws are very generous about owner access to information, but the board of directors recently denied a request for figures on managerial salaries. Why?