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150 Liability Insurance Required For Strata Corporation

In This Volume

150 (1) The strata corporation must obtain and maintain liability insurance to insure the strata corporation against liability for property damage and bodily injury.

  • (2) The insurance must be of at least the amount required in the regulations.

1998-43-150, effective July 1, 2000 (B.C. Reg. 43/2000); 1999-21-29, effective July 1, 2000 (B.C. Reg. 43/2000).

REGULATIONS

The Strata Property Regulation, B.C. Reg. 43/2000, is included at chapter 57 (Strata Property Regulations) in this Manual.

Minimum Liability Insurance

Section 9.2 of the Strata Property Regulation provides that, for the purpose of s. 150 of the Act, the strata corporation must obtain and maintain liability insurance for a minimum amount of two million dollars.