Can Coop impose law and fine?

[Andrew]

Hi,

There is roof work being done on the 4 buildings in my coop. Sidewalk bridging has been put up to help ensure safety of the people. Certain areas are off limits in the coop during the hours of 8 am to 4 pm. The coop management office sent around a notice to the tenants stating that they are going to post a security guard at the coop and if anyone is caught walking through a restricted area they will fine them $50 on their rent. Is that legal?

Thank you,
Andrew
Revolutionary72@aol.com