brought into contribution with each other. 1998, c. 19, s. 101 (2).
The corporation shall obtain and maintain,
(a) insurance against its liability resulting from a breach of duty as occupier of the
common elements or land that the corporation holds as an asset; and
(b) insurance against its liability arising from the ownership, use or operation, by or on its
behalf, of boilers, machinery, pressure vessels and motor vehicles. 1998, c. 19, s. 102.
Capacity to maintain insurance103. (1)
Nothing in this Act shall be construed to restrict the capacity of a corporation, an
owner or any other person to obtain and maintain insurance in respect of an insurable interest.
1998, c. 19, s. 103 (1).
For the purposes of sections 99 and 102, the corporation shall be deemed to have an
insurable interest in the units and common elements. 1998, c. 19, s. 103 (2).
Disclosure by insurer104.
An insurer under an insurance policy required by this Act shall provide the
corporation with a certificate or memorandum of insurance declaring the coverage carried by the
corporation on behalf of all owners. 1998, c. 19, s. 104.
Subject to subsection (2) and (3), if an insurance policy obtained by the
corporation in accordance with this Act contains a deductible clause that limits the amount
payable by the insurer, the portion of a loss that is excluded from coverage shall be a common
expense. 1998, c. 19, s. 105 (1).
If an owner, a lessee of an owner or a person residing in the owner’s unit with the
permission or knowledge of the owner through an act or omission causes damage to the owner’s
unit, the amount that is the lesser of the cost of repairing the damage and the deductible limit of
the insurance policy obtained by the corporation shall be added to the common expenses payable
for the owner’s unit. 1998, c. 19, s. 105 (2).
The corporation may pass a by-law to extend the circumstances in subsection (2) under
which an amount shall be added to the common expenses payable for an owner’s unit if the
damage to the unit was not caused by an act or omission of the corporation or its directors,
officers, agents or employees. 1998, c. 19, s. 105 (3).
Owner’s insurable interest(4)
The amount payable by an owner under this section or as a result of a by-law passed
under this section constitutes an insurable interest of the owner. 1998, c. 19, s. 105 (4).
If any provision of an insurance policy required by section 99 or 102 or any part of
conflicts with anything in this Act, the provisions of this Act apply. 1998,
c. 19, s. 106.