4.1 Preparation And Retention Of Records

• 4.1 (1) In addition to the records required to be prepared under section 35(1) of the Act, the strata corporation must prepare a record of

• (a) each council member’s telephone number, or
• (b) some other method by which the council member may be contacted at short notice, as long as that method is not prohibited by the bylaws.

• (2) The strata corporation must permanently retain the records and documents referred to in section 35(2)(b), (e), (h) and (n.1) of the Act.
• (2.1) The strata corporation must retain reports referred to in section 35(2)(n.2) of the Act until the disposal or replacement of the items to which the reports relate.
• (3) The strata corporation must retain the records and documents referred to in section 35(1)(a) and (d) and 35(2)(f), (i), (j), (l) and (m) of the Act for at least 6 years.
• (4) The strata corporation must retain the written contracts, including insurance policies, referred to in section 35(2)(g) of the Act, for at least 6 years after the termination or expiration of the contract or policy.
• (5) The strata corporation must retain the correspondence referred to in section 35(2)(k) of the Act for at least 2 years.
• (6) The strata corporation must retain current copies of the records and documents referred to in section 35(1)(b) and (c) and 35(2)(c) and (d) of the Act and subsection (1) of this section.
• (7) The strata corporation must retain the following records and documents referred to in section 35(2)(n) of the Act and obtained from the owner developer under sections 20 and 23 of the Act for the following periods:

• (a) the records and documents referred to in section 20(2)(a)(i), (ii), (iv), (v) and (vi) of the Act must be permanently retained;
• (b) the contracts, including insurance policies, referred to in section 20(2)(a)(iii) of the Act must be retained for at least 6 years after the termination or expiration of the contract or policy;
• (c) the records and documents, other than warranties, referred to in section 20(2)(a)(vii) of the Act, must be retained until the disposal or replacement of the common property or common asset to which they relate;
• (d) the warranties referred to in section 20(2)(a)(vii) of the Act must be retained until the disposal or replacement of the common property or common asset to which they relate, or the expiration of the warranty coverage, whichever comes first;
• (e) the financial records obtained under section 23 of the Act, if any, must be retained for at least 6 years after the transfer of control referred to in section 22 of the Act.

[am. B.C. Reg. 89/2013].