Condominium Act

subsection (2). 1998, c. 19, s. 75 (4).

Notice of payment

After receiving the audited financial statements for the period covered by the budget

statement, the board shall compare the actual amount of common expenses and revenue

described in subsections (2) and (3) for the period covered by the budget statement with the

budgeted amounts and shall, within 30 days of receiving the audited financial statements, give

written notice to the declarant of the amount that the declarant is required to pay to the

corporation under this section. 1998, c. 19, s. 75 (5).

Time for payment

Within 30 days of receiving the notice, the declarant shall pay the corporation the

amount that it is required to pay under this section. 1998, c. 19, s. 75 (6).

Status certificate

The corporation shall give to each person who so requests a status certificate with

respect to a unit in the corporation, in the prescribed form, that specifies the date on which it was

made and that contains,

(a) a statement of the common expenses for the unit and the default, if any, in payment of

the common expenses;

(b) a statement of the increase, if any, in the common expenses for the unit that the board

has declared since the date of the budget of the corporation for the current fiscal year

and the reason for the increase;

the date of the budget of the corporation for the current fiscal year to increase the

contribution to the reserve fund and the reason for the assessments;

(d) a statement of the address for service of the corporation;

(e) a statement of the names and address for service of the directors and officers of the

corporation;

(f) a copy of the current declaration, by-laws and rules;

(g) a copy of all applications made under section 109 to amend the declaration for which

the court has not made an order;

(h) a statement of all outstanding judgments against the corporation and the status of all

legal actions to which the corporation is a party;

(i) a copy of the budget of the corporation for the current fiscal year, the last annual

audited financial statements and the auditor’s report on the statements;

(j) a list of all current agreements mentioned in section 111, 112 or 113 and all current

agreements between the corporation and another corporation or between the

corporation and the owner of the unit;

(k) a statement that the person requesting the status certificate has the rights described in

subsections (7) and (8) with respect to the agreements mentioned in clause (j);

(l) a statement whether the parties have complied with all current agreements mentioned