Condominium Act Form 4 In King
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FAQ
Bylaws are created pursuant to the inium Property Act (Alberta) (the “CPA”) and its Regulation. Bylaws are formal, legally binding documents of a inium corporation that provide a breakdown of its governance and operations.
Section 83(1) of the Act requires landlords to notify the condo corporation of the rental and provide a copy of the lease within 10 days of signing.
The prescribed rate of interest applicable from time to time, accrued on such monies received from time to time and payable under sections 73, 74 and 82 of the Act is two percent (2%) below “the bank rate established by the Bank of Canada as the minimum rate at which the Bank of Canada makes short-term advances to ...
Condo corporations can now conduct virtual or hybrid meetings and votes without the need to pass a specific bylaw. This change, which came into effect in 2023, makes it easier for condos to hold meetings electronically, building on the practices many condos adopted during the COVID-19 pandemic.
Changes to the inium Act will come into effect October 1, 2023 and will: Permit condo corporations to hold virtual or hybrid meetings unless the condo's bylaws provide otherwise. Establish that voting (including elections) may be conducted virtually or in hybrid form unless a condo's bylaws provide otherwise.
Can a condo board evict an owner in Ontario? No, a condo board can't evict an owner in Ontario. Ontario's recent inium Act doesn't give a inium corporation the authority to force an owner to sell his unit or expel them from his or her unit.
In Ontario, condos have one director who can be elected for three years by resident owners only (although the candidate does not need to be a resident owner).
Section 58 (2) of the Act provides: “The rules shall be reasonable and consistent with this Act, the declaration and the bylaws.” Rules made by a condo corporation board of directors take effect 30 days after notice of them is given to the unit owners unless the unit owners require a meeting of owners which can amend ...
