December 2020
While responsibilities of a condo board can be extensive and broad, legal obligations are more narrowly defined.
Fiduciary Duty
Condo directors are expected to keep the interests of their corporation, or community, above their own. Decisions should benefit the community more than any single director, owner or other individual. The expectation is that directors serve in good faith and with a degree of care any prudent person would use under similar circumstances while remaining consistent with governing documents of the corporation. Any time there may be a chance this is not occurring, a condo board should give greater thought to their chosen course of action.
Communications and Meetings
Certain communications are mandated as part of the Condo Act. Condo boards have an obligation to provide these communications as stated in the Act.
Condo boards have an obligation to provide certain information to owners on request including some financial information and meeting minutes.
See CAO Forms – Better Communication, Fewer Disputes for forms and information to be provided to owners, and for requesting information from the board.
See Access to Condo Records for what records are available from the board and how to obtain them.
The only mandated meeting is the Annual General Meeting (AGM). Most other meetings during the year are at the discretion of the board.
Within these parameters, condo boards have discretion to determine what they want to deal with and how best to conduct themselves.
