Tagged: Tony O
May 28, 2019 at 1:17 pm #4076
We have just had our By-laws done and they wish the yes or no back by June 7th. Although it appears all of the changes in the Act for July st and January 1 are included there is still some issues we are not in agreement with.
What happens if these are not approved by the owners within the year? Will we have to start all over with new By-laws or just make the changes that we want to these By-laws (which we have paid for) and register them.
How much does it cost to Register the By-laws.
One the the questions is that in our old By-laws we had a stipulation that the Board could not spend more than $30,000.00 from the Reserve Account without a Special Resolution. This was left out of our By-laws. In the new Act does the board require a Special Resolution to take money from the Reserve Account or is up to the discretion of the Board the amount they can take.
Marlene Beattie Board Member Horizon Village Blackmud Creek
June 4, 2019 at 9:31 am #4156
Our complex is self-managed and I suspect that there are more. With the mandatory requirement for new By-laws comes a very large cost to formulate them. The outlined changes will be mandatory in every condo’s By-laws. I’m pretty sure that some of the Boards of these complexes are in a quandry, just like ours, not knowing where the large cost of getting these By-laws prepared and registered is going to come from. In an effort to keep costs manageable and condo fees stable, and hopefully avoiding a special assessment, is it possible that these smaller complexes might consider forming a type of “co-op” to have mirror image by-laws developed with consideration being given to the requirements of the individual complex. Surely there cant be that much that can be exclusive to each of these complexes. The cost would be shared by participating complexes making the cost bearable and not put a financial strain on the complexes coffers.
June 7, 2019 at 7:29 am #4200
Sounds like a great idea to reduce costs and time in revising by-laws!
June 19, 2019 at 9:24 am #4278
Creating a Co-op for self managed complexes to develop the changes to the bylaws is an excellent idea. Our complex is small and the cost associated with redoing the bylaws will be expensive and our Board is trying to avoid any type of special assessment.
June 20, 2019 at 10:15 am #4283
I believe there are now 4 maybe 5 complexes that think the “co-op” for By Law regeneration is a good idea. Not sure what the best method is to proceed other that all interested parties gathering to discuss individual ideas prior to attending at a lawyer’s office. If you would like to congregate please respond.
June 13, 2019 at 6:37 pm #4244
This reply is late, but perhaps you can fill us in on the result. I thimk this is a question you should ask of your lawyers. Do they have a reason for leaving out the provision for a special resolution approving expenditures exceeding $30,000, or did they just miss it? I don”t believe the new legislation requires a special resolution to permit such an expenditure from the Reserve Fund unless it is a capital improvement, nor does it prevent the corporation from requiring such a provision in your bylaws. If your lawyers see no legal impediment to inclusion, the question might be whether to require a special resolution (difficult for large condos with few active owners) or an ordinary resolution by show of hands, that could be passed at a general meeting provided there is a quorum.
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