19(1)The objects of a corporation are to manage the property and assets of the corporation.
19(2)The Companies Act and the Business Corporations Act do not apply to a corporation created under this Act.
19(3)A corporation has all the corporate powers and capacities necessary to enable it to do all the acts and things that are incidental or conducive to or consequential on the attainment of its objects.
19(4)A corporation has a duty to take all reasonable steps to ensure that the owners comply with this Act, the declaration and the by-laws.
19(5)Each owner, and each person having a claim against a unit and common interest, has the right to the performance of a duty of the corporation specified by this Act, the declaration and the by-laws.
19(6)An action with respect to the common elements may be brought by a corporation, and a judgment for the payment of money in favour of the corporation in the action is an asset of the corporation.
19(7)A corporation may do any of the following with the consent of the owners of at least 60% of the common elements:
(a)
acquire by purchase, gift, devise, bequest or other means, real or personal property and sell, mortgage, convey or otherwise deal with the property;
(b)
borrow money;
(c)
mortgage, hypothecate or pledge its property or rights, including any future right to be paid money as a result of a levy made under this Act, in order to secure repayment of money borrowed by it or the payment or performance of any of its obligations;
(d)
grant easements affecting the common elements;
(e)
grant leases of the common elements;
(f)
make capital expenditures; and
(g)
levy special assessments for extraordinary common expenses.
19(8)An easement or a lease granted under paragraph (7)(d) or (e) has the same effect as if it were granted by all the owners of the common elements to which the grant of easement or lease relates.
19(1)The objects of a corporation are to manage the property and assets of the corporation.
19(2)The Companies Act and the Business Corporations Act do not apply to a corporation created under this Act.
19(3)A corporation has all the corporate powers and capacities necessary to enable it to do all the acts and things that are incidental or conducive to or consequential on the attainment of its objects.
19(4)A corporation has a duty to take all reasonable steps to ensure that the owners comply with this Act, the declaration and the by-laws.
19(5)Each owner, and each person having a claim against a unit and common interest, has the right to the performance of a duty of the corporation specified by this Act, the declaration and the by-laws.
19(6)An action with respect to the common elements may be brought by a corporation, and a judgment for the payment of money in favour of the corporation in the action is an asset of the corporation.
19(7)A corporation may do any of the following with the consent of the owners of at least 60% of the common elements:
(a)
acquire by purchase, gift, devise, bequest or other means, real or personal property and sell, mortgage, convey or otherwise deal with the property;
(b)
borrow money;
(c)
mortgage, hypothecate or pledge its property or rights, including any future right to be paid money as a result of a levy made under this Act, in order to secure repayment of money borrowed by it or the payment or performance of any of its obligations;
(d)
grant easements affecting the common elements;
(e)
grant leases of the common elements;
(f)
make capital expenditures; and
(g)
levy special assessments for extraordinary common expenses.
19(8)An easement or a lease granted under paragraph (7)(d) or (e) has the same effect as if it were granted by all the owners of the common elements to which the grant of easement or lease relates.
19(1)The objects of a corporation are to manage the property and assets of the corporation.
19(2)The Companies Act and the Business Corporations Act do not apply to a corporation created under this Act.
19(3)A corporation has all the corporate powers and capacities necessary to enable it to do all the acts and things that are incidental or conducive to or consequential on the attainment of its objects.
19(4)A corporation has a duty to take all reasonable steps to ensure that the owners comply with this Act, the declaration and the by-laws.
19(5)Each owner, and each person having a claim against a unit and common interest, has the right to the performance of a duty of the corporation specified by this Act, the declaration and the by-laws.
19(6)An action with respect to the common elements may be brought by a corporation, and a judgment for the payment of money in favour of the corporation in the action is an asset of the corporation.
19(7)A corporation may do any of the following with the consent of the owners of at least 60% of the common elements:
(a)
acquire by purchase, gift, devise, bequest or other means, real or personal property and sell, mortgage, convey or otherwise deal with the property;
(b)
borrow money;
(c)
mortgage, hypothecate or pledge its property or rights, including any future right to be paid money as a result of a levy made under this Act, in order to secure repayment of money borrowed by it or the payment or performance of any of its obligations;
(d)
grant easements affecting the common elements;
(e)
grant leases of the common elements;
(f)
make capital expenditures; and
(g)
levy special assessments for extraordinary common expenses.
19(8)An easement or a lease granted under paragraph (7)(d) or (e) has the same effect as if it were granted by all the owners of the common elements to which the grant of easement or lease relates.
19(1)The objects of a corporation are to manage the property and assets of the corporation.
19(2)The Companies Act and the Business Corporations Act do not apply to a corporation created under this Act.
19(3)A corporation has all the corporate powers and capacities necessary to enable it to do all the acts and things that are incidental or conducive to or consequential on the attainment of its objects.
19(4)A corporation has a duty to take all reasonable steps to ensure that the owners comply with this Act, the declaration and the by-laws.
19(5)Each owner, and each person having a claim against a unit and common interest, has the right to the performance of a duty of the corporation specified by this Act, the declaration and the by-laws.
19(6)An action with respect to the common elements may be brought by a corporation, and a judgment for the payment of money in favour of the corporation in the action is an asset of the corporation.
19(7)A corporation may do any of the following with the consent of the owners of at least 60% of the common elements:
(a)
acquire by purchase, gift, devise, bequest or other means, real or personal property and sell, mortgage, convey or otherwise deal with the property;
(b)
borrow money;
(c)
mortgage, hypothecate or pledge its property or rights, including any future right to be paid money as a result of a levy made under this Act, in order to secure repayment of money borrowed by it or the payment or performance of any of its obligations;
(d)
grant easements affecting the common elements;
(e)
grant leases of the common elements;
(f)
make capital expenditures; and
(g)
levy special assessments for extraordinary common expenses.
19(8)An easement or a lease granted under paragraph (7)(d) or (e) has the same effect as if it were granted by all the owners of the common elements to which the grant of easement or lease relates.