Condo Boards Should Update Operating By-Laws
If you own a condo unit and, especially if you are a condo board director, you may find this article from the REMI Network to be of interest. It appropriately suggests that condo corporations should be updating their general operating bylaws due to the recent legislative reforms that affect condo governance.
Under the new act, several operational changes came into effect surrounding:
- duties and obligations of the corporation and board
- changes to director qualifications and disqualifications including required training
- changes to owners meetings
You can read the full article here.