Acts and Regulations

C-16.05 - Condominium Property Act

Section 37
Disposition versions

Full text
Operating fund - common expenses
37(1)A corporation shall establish an operating fund for the payment of the common expenses to which the owners shall contribute in proportions specified in the declaration.
37(2)A corporation shall assess and collect the owners’ contributions towards the common expenses as specified in the declaration and the by-laws.
37(3)A corporation shall pay the common expenses.
37(4)At the end of the fiscal year, any surplus in the operating fund of a corporation shall be applied against future common expenses or shall be paid into the reserve fund or the contingency fund, and shall only be distributed to the owners when the governance of the condominium property by this Act is terminated.
37(5)A corporation has a right to recover the following from an owner by an action for debt:
(a) the unpaid amount of an assessment;
(b) a sum of money expended by the corporation for repairs to or work done by the corporation or at its direction to comply with a notice or order by a competent public or local authority in respect of that portion of the building comprising the unit of that owner; and
(c) a sum of money expended by the corporation for repairs made under subsection 48(6).
Operating fund - common expenses
37(1)A corporation shall establish an operating fund for the payment of the common expenses to which the owners shall contribute in proportions specified in the declaration.
37(2)A corporation shall assess and collect the owners’ contributions towards the common expenses as specified in the declaration and the by-laws.
37(3)A corporation shall pay the common expenses.
37(4)At the end of the fiscal year, any surplus in the operating fund of a corporation shall be applied against future common expenses or shall be paid into the reserve fund or the contingency fund, and shall only be distributed to the owners when the governance of the condominium property by this Act is terminated.
37(5)A corporation has a right to recover the following from an owner by an action for debt:
(a) the unpaid amount of an assessment;
(b) a sum of money expended by the corporation for repairs to or work done by the corporation or at its direction to comply with a notice or order by a competent public or local authority in respect of that portion of the building comprising the unit of that owner; and
(c) a sum of money expended by the corporation for repairs made under subsection 48(6).