ROLE OF A CONDO DIRECTOR June 11, 2019 Thank you to our sponsors!
Moderator: Stephanie Sutherland, Lawyer Speakers: David Heska, Engineer Sean Wilde, Property Manager
• Agenda • Obligations and Duties of a Director • Reserve Fund Obligations and Goals • Working with a Manager
Overview Role of the Board: manage property and assets of condo on behalf of owners Directors are elected by owners – democratic government, chosen to make decisions on behalf of ‘constituency’ S. 37(1) of the Condo Act: Every director has the duty to (a) act honestly and in good faith; and (b) exercise care, diligence, and skill of a reasonable person
Overview S. 37(3): Director will not be found in breach of duty if relied in good faith on opinion of professional (e.g. lawyer, engineer, manager) S. 17(3): Corporation (through Board) has the duty to take all reasonable steps to enforce Act, declaration, by-laws, and rules S. 29(1) and (2) – director qualifications – includes making required disclosures (e.g. any conflict of interest) and completing online training provided by CAO - If do not do these, will be disqualified
ROUND TABLE #1 Thank you to our sponsors!
RESPONSIBILITIES OF MANAGER RESPONSIBILITES OF ENGINEER RESPONSIBILITIES OF DIRECTORS Issue RFS proposal Forward RFS proposal to Board Authorize RFS proposal Prepare questionnaire Complete questionnaire and forward Audited Financials Provide access to units Complete site visit (if required) Optional – meet engineer on site Prepare draft Reserve Fund Study Meeting with Manager, Engineer and Board to discuss draft RFS Approve funding scenario Prepare Notice of Future Funding Sign Notice of Future Funding Distribute Notice of Future Funding and Budget to Owners
Class 1 – Comprehensive Study Class 2 – Update with Site Visit Class 3 – Update without Site Visit
Upcoming Event • Level 300 – Reserve Fund Studies • Saturday September 14, 2019 • 10am-12 noon • Location TBD
ROUND TABLE #2 Thank you to our sponsors!
RESPONSIBILITIES OF MANAGER SHARED RESPONSIBILITES RESPONSIBILITIES OF DIRECTORS Operate within the scope of the Operate within the legislative management contract requirements Advise the board of directors’ Take the CAO training Carry out board direction Direct the property manager Manage the affairs of the corporation Direct the affairs of the corporation Approve minor expenses and day to Approve major expenses and projects day maintenance items Oversee the vendors Oversee the manager CMRAO Code of Ethics Treating people fairly, honestly and with S.37(1) The Condo Act, 1998 integrity CMRAO Code of Ethics, Human Rights Providing reasonable accommodations Human Rights Code, AODA Code, AODA for people with disabilities
How much time should a manager devote to your corporation? • Scope of the Management Contract • Site Hours • Visits • Office hours • Emergency Response • Hours of Operation
Q&A Thank you to our sponsors!
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