Upon registration of a Condominium Corporation, a Board of Directors is automatically required. As a Unit Owner you are eligible to stand for election on the Board. This article covers outlines what is involved.
The Board functions like a “town council” consisting of a President, Secretary, Treasurer and additional Directors – all making decisions as a group on behalf of the Owners.
Section 37(1) of The Condominium Property Act states, “A corporation is responsible for the enforcement of its By-laws and the control, management and administration of its real and personal property and the common property.” This responsibility falls to your Board.
As a Unit Owner You’re Eligible to Stand for Election
If you own a Unit, you are a member of the Condominium Corporation. This means you get a vote on decisions made at the Annual General Meeting (AGM), other Owner’s meetings, and have the opportunity to be elected to the Board.
Although serving on the Board is a lot of responsibility, who better to entrust with such decisions? Elected Owners have the most at stake and in theory should have the best interest of all Owners at heart.
As a Board member you represent not only your own interest, but the broader interests of the community. You have a responsibility to manage Corporation’s budget and funds on behalf of, and for the benefit of, the Condominium complex – your community at large.
If you take a special interest in the issues affecting your home, you can run for election on your Condominium Board. Every Owner should ensure they serve at least one year on the Board to truly understand how your Condominium Corporation functions.
What About Board Member Liability
When an organization incorporates, it limits an individual Board member’s liability. The key word is “limits.” Liability is not entirely eliminated. The Board must follow the Condo Corporations By-laws and the legislation under which it is established.
Specific instances of potential personal liability include: