Background Image
Previous Page  39 / 118 Next Page
Information
Show Menu
Previous Page 39 / 118 Next Page
Page Background

Prescribed form

(6)

An instrument appointing a proxy may be in the prescribed form. 1998, c. 19, s. 52 (6).

Record of corporation

(7)

The corporation shall retain all instruments appointing a proxy for a meeting of owners

as a record of the corporation for 90 days following the date of the meeting. 1998, c. 19, s. 52 (7).

Majority voting

53.

Unless otherwise provided in this Act, all questions proposed for the consideration of

the owners at a meeting of owners shall be determined by a majority of the votes cast by owners

present at the meeting in person or by proxy if there is a quorum at the meeting. 1998, c. 19,

s. 53.

Service on owner or mortgagee

54.

Unless this Act indicates otherwise, anything required to be given to an owner or a

mortgagee under this Act is sufficiently served if it is given in accordance with subsection 47 (7)

or (8), as the case may be. 1998, c. 19, s. 54.

Records

55. (1)

The corporation shall keep adequate records, including the following records:

1. The financial records of the corporation.

2. A minute book containing the minutes of owners’ meetings and the minutes of board

meetings.

3. A copy of the declaration, by-laws and rules.

4. All lists, items, records and other documents mentioned in subsections 43 (4) and (5).

5. The report described in subsection 44 (8) that the corporation receives from the person

who conducts a performance audit.

6. The records required under subsection 47 (2) and 83 (3).

7. A record of all reserve fund studies and all plans to increase the reserve fund under

subsection 94 (8).

8. A copy of all agreements entered into by or on behalf of the corporation.

9. The report that the corporation receives from an inspector in accordance with

subsection 130 (5).

10. All other records as may be prescribed or specified in the by-laws of the corporation.

1998, c. 19, s. 55 (1).

Financial records

(2)

The corporation shall keep all financial records for at least six years from the end of the

last fiscal period to which they relate, in addition to satisfying the requirements of any taxing

authority of Ontario, the government of Canada or any other jurisdiction to which the corporation

is subject. 1998, c. 19, s. 55 (2).

Examination of records

(3)

Upon receiving a written request and reasonable notice, the corporation shall permit an

owner, a purchaser or a mortgagee of a unit or an agent of one of them duly authorized in