92 Operating Fund And Contingency Reserve Fund

• 92 To meet its expenses the strata corporation must establish, and the owners must contribute, by means of strata fees, to

• (a) an operating fund for common expenses that
  • (i) usually occur either once a year or more often than once a year,
  • (ii) are necessary to obtain a depreciation report under section 94, or
  • (iii) are necessary to obtain an electrical planning report under section 94.1, and
• (b) a contingency reserve fund for common expenses that usually occur less often than once a year or that do not usually occur.

1998-43-92, effective July 1, 2000 (B.C. Reg. 43/2000); 2014-10-42; 2023-21-8, effective December 6, 2023 (B.C. Reg. 261/2023).