Vista III
Understanding your Board of Directors Roles & Responsibility
A brief summary:
The Board of directors run the condo corporations on behalf of owners:
They represent owners. As an entity, they are responsible for making all major decisions regarding the maintenance of buildings and grounds, condos’ finances, and must uphold and enforce the Condo Act, the declaration, by-laws, and rules.
Owners elect a board of directors to oversee the business affairs of the condominium corporation. As an owner, you are a member of the condominium corporation, so board activities affect your condominium experience every day. This is why it's important that you vote for the directors or become a director yourself. Elections occur during the annual general meeting (AGM).
Your Board of directors meets regularly to conduct condominium business. Meetings typically occur once a month, though they can happen more or less frequently. The board of directors must ensure the corporation is run in compliance with the Condominium Act. As part of their responsibilities, directors must:
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track your condominium’s financial performance.
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ensure all required maintenance and repairs are carried out
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hire specialists, like engineers, to update the reserve fund study every three years.
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propose changes to condominium by-laws. For these proposed changes to take effect, a majority of unit owners must vote in favour of the changes.
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enact rules to promote the safety, security, and welfare of all owners.
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Provide regular communication with the other owners
The board cannot conduct any business except at a meeting of directors. Further, there must be a quorum at the meeting. A quorum for a directors meeting is a majority of the number of directors. Director meetings don’t have to be face-to-face meetings. A director’s meeting can be held by teleconference.