Mgmt agent is "head officer" of co-op board

Can anyone advise on what it means if a managing agent is also the "head officer" of a co-op board? Does that also mean that managing agent is also the co-op board president and that the co-op building is sponsor-controlled? I was thinking about bidding on a unit until residents told me the co-op building was sponsor-controlled and that all their decisions were overruled by the managing agent, who... [more]

Can anyone advise on what it means if a managing agent is also the "head officer" of a co-op board? Does that also mean that managing agent is also the co-op board president and that the co-op building is sponsor-controlled? I was thinking about bidding on a unit until residents told me the co-op building was sponsor-controlled and that all their decisions were overruled by the managing agent, who it turns out was also the co-op board president. Now another unit has come up but it turns out its managing agent is also the "head officer" of the co-op board. I'm nervous because a friend lives in a co-op building where she says a pied-a-terre couple has taken over the co-op board and is now making decisions no one likes, with at least one neighbor now threatening to sue that co-op board. [less]