98 Unapproved Expenditures

• 98 (1) If a proposed expenditure has not been put forward for approval in the budget or at an annual or special general meeting, the strata corporation may only make the expenditure in accordance with this section.
• (2) Subject to subsection (3), the expenditure may be made out of the operating fund if the expenditure, together with all other unapproved expenditures, whether of the same type or not, that were made under this subsection in the same fiscal year, is

• (a) less than the amount set out in the bylaws, or
• (b) if the bylaws are silent as to the amount, less than $2,000 or 5% of the total contribution to the operating fund for the current year, whichever is less.

• (3) The expenditure may be made out of the operating fund or contingency reserve fund if there are reasonable grounds to believe that an immediate expenditure is necessary to ensure safety or prevent significant loss or damage, whether physical or otherwise.
• (3.1) For the purposes of subsection (3), the prevention of significant loss includes, without limitation, the obtaining and maintaining by the strata corporation of insurance that is required under section 149 or 150 or the strata corporation’s bylaws.
• (4) A bylaw setting out an amount for the purposes of subsection (2)(a) may set out further conditions for, or limitations on, any expenditures under that provision.
• (5) Any expenditure under subsection (3) must not exceed the minimum amount needed to ensure safety or prevent significant loss or damage.
• (6) The strata corporation must inform owners as soon as feasible about any expenditure made under subsection (3).

1998-43-98, effective July 1, 2000 (B.C. Reg. 43/2000); 1999-21-23, effective July 1, 2000 (B.C. Reg. 43/2000); 2020-16-6, effective August 14, 2020.