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January 20, 1996

 

The President [Mr. Olsen] then requested that the Board consider establishing a policy concerning the disclosure of information from the Cooperative’s ownership roster. Mr. Appleton and Mr. Tower circulated to the Board memoranda they had prepared summarizing their respective proposals. Mr. Singer also summarized his discussions with legal counsel and the customary practices among cooperatives which counsel had explained to him. It was the sense of the Board that the policy to be adopted should conform to customary Cooperative practices, enable Cooperative owners to submit mailings to other Cooperative owners of communications relevant to the affairs of the Cooperative and otherwise comply with the Bylaw’s requirements, yet safeguard the privacy of owners and avoid loss of a potentially valuable asset represented by the ownership lists. After discussion and upon motion duly made by Mr. Bleier and seconded by Ms. Kirkpatrick it was unanimously

VOTED: To adopt the records disclosure policy recommended by counsel and submitted by Mr. Singer to the following effect:

1. Access to ownership roster by Cooperative owners for communications to other owners on matters relevant to the Cooperative:

The owners shall deliver to the Cooperative a written statement to be distributed to some identified part or all of the Cooperative's membership.

 

The Executive Committee will make an initial determination of the propriety of the information for distribution to the Cooperative’s membership. Criticism of Cooperative Trustees or management shall not be a ground for rejecting the owner’s request. The Executive Committee will inform the requesting owner of any rejection or request for changes in the owner’s submission for distribution.

 

The Board of Trustees will make the final determination upon request of the owner if the text of the submission cannot be resolved between the requesting owner and the Executive Committee.

 

The requesting owner will provide the Cooperative with an adequate number of suitable and stamped mailing envelopes for mailing of the approved distribution. The owner will prepay to the Cooperative the direct labor cost of the distribution to owners.

 

The Cooperative staff will enclose the approved submission in envelopes, address the envelopes and post the mailing.

 

2. Other access by owners to owner roster:

Staff will prepare a computer file which includes names of all Cooperative share owners but will not include other identifying personal or financial information. Owners will be allowed access to the computer file but will not be permitted to make a physical or digital copy of the information.

 

3. Access to ownership roster by person no Cooperative owners:

Not permitted.