(a)    This section applies to any meeting of a cooperative housing corporation, the governing body of a cooperative housing corporation, or a committee of a cooperative housing corporation, notwithstanding anything contained in the documents of the cooperative housing corporation.

(b)    Subject to the provisions of subsection (e) of this section, all meetings of the cooperative housing corporation shall be open to the members of the cooperative housing corporation or their agents.

(c)    All members shall be given reasonable notice of all regularly scheduled open meetings of the cooperative housing corporation.

(d)    (1)    This subsection does not apply to a meeting of a governing body that occurs at any time before the members, other than the developer, have a majority of votes in the cooperative housing corporation.

(2)    Subject to paragraph (3) of this subsection and to reasonable rules adopted by a governing body, a governing body shall provide a designated period of time during a meeting to allow members an opportunity to comment on any matter relating to the cooperative housing corporation.

(3)    During a meeting at which the agenda is limited to specific topics or at a special meeting, the comments of members may be limited to the topics listed on the meeting agenda.

(e)    (1)    A meeting of a cooperative housing corporation may be held in closed session only for the purpose of:

(i)    Discussing matters pertaining to employees and personnel;

(ii)    Protecting the privacy or reputation of individuals in matters not related to the business of the cooperative housing corporation;

(iii)    Consulting with legal counsel on legal matters;

(iv)    Consulting with staff personnel, consultants, attorneys, board members, or other persons in connection with pending or potential litigation or other legal matters;

(v)    Conducting investigative proceedings concerning possible or actual criminal misconduct;

(vi)    Considering the terms or conditions of a business transaction in the negotiation stage if the disclosure could adversely affect the economic interests of the cooperative housing corporation;

(vii)    Complying with a specific constitutional, statutory, or judicially imposed requirement protecting particular proceedings or matters from public disclosure; or

(viii)    Discussing individual owner assessment accounts.

(2)    If a meeting is held in closed session under paragraph (1) of this subsection:

(i)    An action may not be taken and a matter may not be discussed if it is not permitted by paragraph (1) of this subsection; and

(ii)    The minutes of the next meeting of the cooperative housing corporation shall include:

1.    A statement of the time, place, and purpose of a closed meeting;

2.    A record of the vote of each board or committee member by which the meeting was closed; and

3.    A statement of the authority under this subsection for closing the meeting.