Property Ownership
In New York, a 'cooperative corporation' that owns an apartment building is governed by:
AThe Condominium Act
BThe New York Business Corporation Law and the proprietary lease, with day-to-day governance by a Board of Directors✓ Correct
CThe Multiple Dwelling Law only
DReal Property Law Article 12-A
Explanation
A cooperative corporation in New York is formed under and governed by the New York Business Corporation Law. The board of directors (elected by shareholders) governs the corporation.
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