Dear Co-op Counselor; HELP!
I have a question about professional hierarchy and specifically who answers to whom? Does the cooperative attorney represent the Management company or the cooperative?
As a board member, I was told by my management company NOT to take matters to the Cooperative Attorney. I am not sure who I can talk to? Please advise.
Signed, Who’s Who
While the management company may have some role in evaluating and making recommendations of law firms for your cooperative to use for legal services. The board of directors ultimately makes the decision on which professionals to hire and fire. Some of the professions your cooperative uses include your attorney, management company and your auditor.
Once the attorney client relationship has been established with the law firm of YOUR choosing your cooperative attorney has an ethical and fiduciary duty to you and you alone as representative of your cooperative
While your cooperative attorney will often work in tandem with your other respective professionals, the cooperative attorney answers to your cooperative board and NO one else unless your attorney advises you otherwise, in other words unless you instruct them to speak with your management company.
This is essential because in certain circumstances, you may call upon your cooperative attorney to fire another professional, in which your cooperative attorney will be obligated to perform your directives on your behalf.
Signed: Co-op Counselor (CC)