95 Management Of Contingency Reserve Fund

95 (1) The strata corporation must account for money in the contingency reserve fund separately from other money of the strata corporation.

• (2) The strata corporation must invest all of the money in the contingency reserve fund in one or the other or a combination of the following:

• (a) those investments permitted by the regulations;
• (b) insured accounts with savings institutions in British Columbia.

• (3) Any interest or income earned on the money in the contingency reserve fund becomes part of the fund.
• (4) Despite subsection (2), the strata corporation may lend money in the contingency reserve fund to the operating fund as permitted by the regulations.

1998-43-95, effective July 1, 2000 (B.C. Reg. 43/2000); 1999-21-22, effective July 1, 2000 (B.C. Reg. 43/2000); 2002-33-21, effective February 28, 2003 (B.C. Reg. 34/2003).