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Use of reserve fund

95. (1)

No part of a reserve fund shall be used except for the purpose mentioned in

subsection 93 (2). 1998, c. 19, s. 95 (1).

Board’s use

(2)

The board does not require the consent of the owners to make an expenditure out of a

reserve fund. 1998, c. 19, s. 95 (2).

No distribution

(3)

The amount of a reserve fund shall constitute an asset of the corporation and shall not

be distributed to the mortgagees of the units or, except on termination of the corporation, to the

owners of the units. 1998, c. 19, s. 95 (3).

Warranties

96. (1)

All warranties given with respect to work and materials furnished for a unit shall

be for the benefit of an owner. 1998, c. 19, s. 96 (1).

Enforcement by corporation

(2)

The corporation may enforce the warranties mentioned in subsection (1) on behalf of

an owner if the corporation does work on behalf of the owner under section 92. 1998, c. 19,

s. 96 (2).

Same, common elements

(3)

All warranties given with respect to work and materials furnished for the common

elements shall be for the benefit of the corporation. 1998, c. 19, s. 96 (3).

C

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OMMON

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LEMENTS

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SSETS

Changes made by corporation

97. (1)

If the corporation has an obligation to repair the units or common elements after

damage or to maintain them and the corporation carries out the obligation using materials that are

as reasonably close in quality to the original as is appropriate in accordance with current

construction standards, the work shall be deemed not to be an addition, alteration or

improvement to the common elements or a change in the assets of the corporation for the purpose

of this section. 1998, c. 19, s. 97 (1).

Changes made without notice

(2)

A corporation may, by resolution of the board and without notice to the owners, make

an addition, alteration or improvement to the common elements, a change in the assets of the

corporation or a change in a service that the corporation provides to the owners if,

(a) it is necessary to make the addition, alteration, improvement or change to comply with

an agreement mentioned in section 113 or the requirements imposed by any general or

special Act or regulations or by-laws made under that Act;

(b) in the opinion of the board, it is necessary to make the addition, alteration,

improvement or change to ensure the safety or security of persons using the property

or assets of the corporation or to prevent imminent damage to the property or assets;

or

(c) subject to the regulations made under this Act, the estimated cost, in any given month

or other prescribed period, if any, of making the addition, alteration, improvement or