FACTS
1. All shareholder voting power is defaulted to Board President, John Dew, for every shareholder who does not either a) show up to vote for their self, or b) does not appoint someone else to vote on their behalf.
2. The Board consists of nine (9) Resident Directors and eight (8) representatives of the “Sponsor” (Clinton Hill Equities LLC, ie., Francis Greenburger) and “Holders of Unsold Shares” (ie., CH Equities Corp & TC Equities Holdings Corp)
3. Elections to the Board depend on a Quorum which requires representation of over 50% of all shares. It is currently unclear whether this is 50% of all shareholder owned shares, or 50% of total shares (including unsold and those held by leasing companies).
4. There are 1,213 apartments at CHAOC. As of July 2007, 238 of these apartments (20% of total shares) were owned by the “Sponsor” and “Holders of Unsold Shares”, and 100 (8%) of the total are owned by B.Y. Equities and B.B.Y. Enterprises Inc.
5. Quorum would require 438 apartments or ~97,416 shares (based on 2007 figures) represented by present voters at the Annual Shareholder Meeting. Those present can also represent by proxy.
GOOD NEWS
The Annual Meeting of Shareholders is coming up in November (date currently unknown) which means we have time to collect Proxy Ballots from our neighbors. As concerned and interested shareholders, I encourage each person to have your neighbors empower you to vote on their behalf through the Proxy Ballot form if they will not attend the meeting (found in packet from last Oct 30, 2007 or to be received in the next packet which should be received in the next week or so).
Please consider running for the Board! Only 9 shareholders can be elected and with Quorum, the shareholders are empowed to decide who these 9 are. To apply you must submit a letter and resume to the management office your application. Check out the ones submitted last year in your Oct 30th packet. I also highly suggest you email me your application and I will post it for others to read.
In order to ensure you are not collecting proxy ballots from renters, the unsold apartments are listed in the 9th amendment to the restated offering plan. I have not yet received (or can’t find!) the 10th ammendment. These appear to be published annually around July/August so please let me know if you have the 10th amendment already.
CHAOCblog 
October 16, 2008 at 11:51 pm
It is 50% resident shareholders the sponsor and holder of unsold shares are not allowed to vote for resident board members.they have their members and we can’t vote for them. this being said the last vote we had the holder of unsold shares voted for resident members. By-law stae that the annual meeting will be held in June( most coops hold in June before the Summer, vacationc ,school being out)and no later that July. John Dew states that this means they have 13 months to remain in office this is how we are up to Nov. for the annual meeting
October 21, 2008 at 3:37 pm
The original By- Laws states each building is to have a director for a total of 12