96 Expenditures From Contingency Reserve Fund

96 The strata corporation must not spend money from the contingency reserve fund unless the expenditure is

• (a) consistent with the purposes of the fund as set out in section 92(b), and
• (b) approved or authorized as follows:
  • (i) the expenditure is first approved by a resolution passed by
    • (A) a majority vote at an annual or special general meeting if the expenditure is
      • (I) necessary to obtain a depreciation report under section 94, or
      • (II) related to the repair, maintenance or replacement recommended in the most current depreciation report obtained under section 94 of common property, common assets or the portions of a strata lot for which the strata corporation has taken responsibility under section 72(3)
      • (III) related to the installation of EV charging infrastructure or the management of electricity used by EV charging infrastructure, or
      • (IV) necessary to obtain a report respecting the installation or operation of EV charging infrastructure or the management of electricity used by EV charging infrastructure, or
    • (B) a 3/4 vote at an annual or special general meeting if the expenditure is not described in clause (A)(I) to (IV);
  • (ii) the expenditure is authorized under section 98.

2014-10-43; 2020-16-5, effective January 24, 2023 (B.C. Reg. 7/2023); 2023-21-10, effective May 11, 2023.