ykcondocorp13.weebly.com · author: peter sheldon created date: 11/17/2013 4:56:36 pm
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To: All owners, YKCC #13 (Forrest Park) From: YKCC #13 Board Date: 15 October 2013 Re: Proposed Changes to YKCC #13 By-laws The Yellowknife Condominium Corporation #13's by-laws have not been updated since their creation in 1992. The Board is proposing the following changes to the by-laws to update and refresh. At the meeting on 17 November 2013, the membership will vote on each item in turn. There are 17 in total. A PDF copy of the 1992 By-Laws is available for download on the website for your reference at http://ykcondocorp13.weebly.com/publications.html. We need 66 2/3 % of the unit share to pass each proposed change. That means 18 Yes votes out of a possible 26. In cases of a co-owned unit, only one member may vote at a time. If you are unable to attend, please ensure you fill out and send a Proxy form. Proxy forms are available for download at http://ykcondocorp13.weebly.com/publications.html. In the following document, Yellow highlight indicates a change or addition. Red highlight indicates a removal without any replacing text.
Proposed changes to Yellowknife Condominium Corporation By-laws, October 2013: Proposed Change # 1) Add a table of contents. Proposed Change # 2) For the entire document add “hers” to all references to “his” - should read “his/hers.” Also, for "he" and "she" - should read "he/she". Proposed Change # 3) Page 2, 1.00 m. PART I -- DEFINITIONS, INTERPRETATIONS AND APPLICATIONS
1.00 The following definitions shall apply to all parts
of these By-Laws, unless the context or subject
matter requires a different meaning.
Current: m. a "member in good standing" means someone who
has duly paid all assessments payable in
respect of his unit within the last thirty
(30) days;
Proposed: m. a "member in good standing" means someone who
has duly paid all assessments payable in
respect of his unit within (30) days of the
most recent monthly condo fee due date;
Proposed Change # 4) Page 8, 3.00 d.
PART III - THE CORPORATION
DUTIES OF THE CORPORATION 3.00 In addition to the duties of the Corporation set
forth in the Act, the Corporation, through its
Board shall:
Current:
d. provide and maintain in force public liability
insurance on the common areas;
Proposed: d. at the discretion of the board, provide and
maintain public liability insurance on the
common areas;
Proposed Change # 5) Page 12, 4.02
Current: NOMINATION OF BOARD MEMBERS
4.02 There shall be a call for nominations two (2) months
before the schedule date for the Annual General
Meeting. Nominated names shall be submitted in
writing at least five (5) weeks before the Annual
General Meeting, and each nomination so submitted
shall be nominated by two (2) persons both of whom
shall be owner(s) of two (2) condominium units. One
(1) month before the Annual General Meeting, a brief
biography of all nominees shall be distributed to
the members.
Proposed: NOMINATION OF BOARD MEMBERS
4.02 There shall be a call for nominations two (2) months
before the scheduled date for the Annual General
Meeting. Nominated names shall be submitted in
writing at least five (5) weeks before the Annual
General Meeting, and each nomination so submitted
shall be nominated by two (2) persons both of whom
shall be owner(s) of two (2) condominium units. One
(1) month before the Annual General Meeting, a brief
biography of all nominees shall be distributed to
the members.
Proposed Change # 6) Page 14, 4.04 c.
DUTIES OF OFFICERS
4.04 The duties of the elected Board members shall be as
follows :
Current: c. Treasurer
The Treasurer shall be the Chief Financial
Officer of the Corporation and, in the absence
of both the President and the Vice President,
shall assume the office of the Chief Executive
Officer of the Corporation.
The Treasurer shall prepare a financial
statement of the Corporation for each general
meeting. The Treasurer shall have an audited
financial statement ready for presentation to
the membership at each Annual General Meeting,
the firm of chartered accountants used for the
audit have been selected at the previous
Annual General Meeting by the unit owners
attending that meeting. The audited financial
statement shall be prepared within 90 days
after the Corporation's fiscal year-end: the
fiscal year shall commence the day after the
date and month shown as the original
registration date of these by-laws.
Proposed:
c. Treasurer
The Treasurer shall be the Chief Financial
Officer of the Corporation and, in the absence
of both the President and the Vice President,
shall assume the office of the Chief Executive
Officer of the Corporation.
The Treasurer shall prepare a financial
statement of the Corporation for each general
meeting. The Treasurer shall have an audited
financial statement – which shall be prepared
by either an internal audit committee
appointed by the Board (refer to Part IV,
Section 4.d, herein) or an external auditor
(normally a chartered accountant), as the case
may be – ready for presentation to the
membership at each Annual General Meeting. The
audited financial statement shall be prepared
within 90 days after the Corporation's fiscal
year-end: the fiscal year shall commence the
day after the date and month shown as the
original registration date of these by-laws.
Proposed Change # 7) Page 14, 4.04 c. DUTIES OF OFFICERS
4.04 The duties of the elected Board members shall be as
follows :
Current: c. Treasurer
The Treasurer shall be the Chief Financial
Officer of the Corporation and, in the absence
of both the President and the Vice President,
shall assume the office of the Chief Executive
Officer of the Corporation.
The Treasurer shall prepare a financial
statement of the Corporation for each general
meeting. The Treasurer shall have an audited
financial statement ready for presentation to
the membership at each Annual General Meeting,
the firm of chartered accountants used for the
audit have been selected at the previous
Annual General Meeting by the unit owners
attending that meeting. The audited financial
statement shall be prepared within 90 days
after the Corporation's fiscal year-end: the
fiscal year shall commence the day after the
date and month shown as the original
registration date of these by-laws.
Proposed:
c. Treasurer
The Treasurer shall be the Chief Financial
Officer of the Corporation and, in the absence
of both the President and the Vice President,
shall assume the office of the Chief Executive
Officer of the Corporation.
The Treasurer shall prepare a financial
statement of the Corporation for each general
meeting. The Treasurer shall have an audited
financial statement ready – which shall be
prepared by either an internal audit committee
appointed by the Board (refer to Part IV,
Section 4.d, herein) or an external auditor
(normally a chartered accountant), as the case
may be – for presentation to the membership at
each Annual General Meeting, the firm of
chartered accountants used for the audit have
been selected at the previous Annual General
Meeting by the unit owners attending that
meeting. The audited financial statement shall
be prepared within 90 days after the
Corporation's fiscal year-end: the fiscal year
end shall match the calendar year end.
Proposed Change # 8) Add clause 4.00 d.
PART IV - THE CORPORATION AND THE BOARD
THE BOARD
4.00 The Board shall be the governing body of the
Corporation between Annual General Meetings, and
shall take such action and decisions as may be
necessary to administer the Corporation before a
meeting can be convened.
Current: No clause d. Proposed:
d. The executive shall establish an internal audit
committee consisting of 3 members, the
responsibility of which will be to review and
approve financial statements prepared by the
treasurer, no later than 30 days prior to the AGM.
Where an internal audit committee cannot be formed,
than at the discretion of the executive an
external auditor shall be retained.
Proposed Change # 9) Page 15, 4.04 DUTIES OF OFFICERS
4.04 The duties of the elected Board members shall be as
follows :
Current: c. Secretary
Proposed: d. Secretary
Proposed Change # 10) Page 18, 5.00 ANNUAL GENERAL MEETINGS
Current: 5.00 The first Annual General Meeting shall be convened
by the Board within three (3) months of the
registration of the Corporation. Subsequent Annual
General Meetings shall be held once in each
calender year. Not more than fifteen (15) months
shall elapse between the date of one Annual General
Meeting and that of the next.
Proposed: 5.00 The first Annual General Meeting shall be convened
by the Board within three (3) months of the
registration of the Corporation. Subsequent Annual
General Meetings shall be held once in each
calendar year. Not more than fifteen (15) months
shall elapse between the date of one Annual General
Meeting and that of the next.
Proposed Change # 11) Page 25 6.00 paragraph 1, 5 and 6 Current:
PART VI - INSURANCE
INSURANCE
6.00 The Board, on behalf of the Corporation, shall
obtain and maintain at all times, insurance on all
the insurable common property and all insurable
property both real and personal of any nature
whatsoever of the Corporation, to the full
replacement value thereof, without deduction for
depreciation. Without restricting the generality
of the foregoing, such insurance shall provide and
include the following:
a. coverage to full replacement value of all
chattels and other property belonging to the
Corporation or forming part of the common
property;
b. coverage for such other risks or causes as the
Board may determine or as may be determined by
special resolution of the Corporation, and as
shall be required under the Act.
Nothing in this section shall restrict the right of
unit owners to obtain and maintain insurance of any
kind in respect of the ownership or use or
occupation of their unit and its structures or
their personal liability as permitted by the Act,
or as otherwise permitted by law and by these by-
laws.
An owner shall carry insurance on his own lot as
required by the Act and these by-laws, provided
that the liability of the insurers issuing
insurance obtained by the Board shall not be
affected or diminished by reason of insurance
carried by a unit owner.
If a unit owner does not provide annual proof of
insurance as stipulated in Section 2.00(i) of these
by laws, then the Board may purchase adequate
coverage as previously defined, and shall add the
cost of this insurance to that owner's condominium
fees.
The Board shall also obtain and maintain public
liability insurance insuring the Corporation and
the Board against any liability to third parties,
on all common property and on all property owned by
the Corporation. Limits of liability under such
insurance shall not be less than One Million
Dollars ($1,000,000.00) for any one person injured
or for any one accident, and shall not be less than
One Million Dollars ($1,000,000.00) for property
damage per occurrence. The limits and coverage
shall be reviewed at least annually by the Board
and increased at its discretion. The policy or
policies shall provide cross-liability endorsements
whereby the rights of a named insured under the
policy or policies shall not be prejudiced as
respects its, his, her or their action against
another named insured.
The Corporation shall also carry insurance
protecting the Board of Directors against any
errors and/or omissions which they make in the
course of their duties. The Corporation shall carry
insurance for members of the Board of Directors and
officers of the Corporation against all liability
claims in such amounts and with such deductible as
the Corporation's Board may determine.
Proposed: PART VI - INSURANCE
INSURANCE
6.00 The Board, on behalf of the Corporation, may, at
its discretion, obtain and maintain, insurance on
all the insurable common property and all
insurable property both real and personal of any
nature whatsoever of the Corporation, to the full
replacement value thereof, without deduction for
depreciation. Without restricting the generality
of the foregoing, such insurance shall provide and
include the following:
a. coverage to full replacement value of all
chattels and other property belonging to the
Corporation or forming part of the common
property;
b. coverage for such other risks or causes as the
Board may determine or as may be determined by
special resolution of the Corporation, and as
shall be required under the Act.
Nothing in this section shall restrict the right of
unit owners to obtain and maintain insurance of any
kind in respect of the ownership or use or
occupation of their unit and its structures or
their personal liability as permitted by the Act,
or as otherwise permitted by law and by these by-
laws.
An owner shall carry insurance on his own lot as
required by the Act and these by-laws, provided
that the liability of the insurers issuing
insurance obtained by the Board shall not be
affected or diminished by reason of insurance
carried by a unit owner.
If a unit owner does not provide annual proof of
insurance as stipulated in Section 2.00(i) of these
by laws, then the Board may purchase adequate
coverage as previously defined, and shall add the
cost of this insurance to that owner's condominium
fees.
The Board may, at its discretion, also obtain and
maintain public liability insurance insuring the
Corporation and the Board against any liability to
third parties, on all common property and on all
property owned by the Corporation. Limits of
liability under such insurance shall not be less
than One Million Dollars ($1,000,000.00) for any
one person injured or for any one accident, and
shall not be less than One Million Dollars
($1,000,000.00) for property damage per occurrence.
The limits and coverage shall be reviewed at least
annually by the Board and increased at its
discretion. The policy or policies shall provide
cross-liability endorsements whereby the rights of
a named insured under the policy or policies shall
not be prejudiced as respects its, his, her or
their action against another named insured.
The Corporation may, at its discretion, also carry
insurance protecting the Board of Directors against
any errors and/or omissions which they make in the
course of their duties. The Corporation may, at its
discretion, carry insurance for members of the
Board of Directors and officers of the Corporation
against all liability claims in such amounts and
with such deductible as the Corporation's Board may
determine.
Proposed Change # 12) Page 28, 7.00 b. PART VII - COMMON EXPENSES
ASSESSMENTS FOR COMMON EXPENSES AND BUDGETS
7.00
Current: b. At least fifteen (15) days prior to the end of
each fiscal year the Corporation shall deliver
or mail to each unit owner at the municipal
address of his residence:
Proposed:
b. At least fifteen (15) days prior to the Annual
General Meeting the Corporation shall deliver
by hand, by e-mail or mail to each unit owner
at the municipal address of his residence:
Proposed Change # 13) Page 28, 7.00 b. i) PART VII - COMMON EXPENSES
ASSESSMENTS FOR COMMON EXPENSES AND BUDGETS
7.00
b. At least fifteen (15) days prior to the end of
each fiscal year the Corporation shall deliver
or mail to each unit owner at the municipal
address of his residence:
Current: i) a copy of the budget for the ensuing
fiscal year; and
Proposed: i) a copy of the draft budget for the ensuing
fiscal year; and
Proposed Change # 14) Page 29, 7.00 e. PART VII - COMMON EXPENSES
ASSESSMENTS FOR COMMON EXPENSES AND BUDGETS
7.00
Current: e. The common expenses set forth in each
assessment shall be payable to the Corporation,
or to any other person, firm or corporation to
whom the Corporation shall direct payment to
be made from time to time, in twelve (12)
equal consecutive monthly instalments payable,
in advance on the first day of each month.
Proposed:
e. The common expenses set forth in each
assessment shall be payable to the Corporation,
or to any other person, firm or corporation to
whom the Corporation shall direct payment to
be made from time to time, in twelve (12)
equal consecutive monthly instalments payable,
in advance on the first day of each month.
The Board may, however at its discretion,
provide for payments comprising of multiple
installments as an option to the
aforementioned monthly payment scheme.
Proposed Change # 15) Page 29, 7.00 f.
PART VII - COMMON EXPENSES
ASSESSMENTS FOR COMMON EXPENSES AND BUDGETS
7.00
Current:
f. All payments of whatsoever nature required to
be made by each owner and not paid within ten
(10) days from the due date for payment, shall
bear interest at the Interest Rate from the
date when due, until paid (all payments on
account shall first be applied to interest and
then to the assessment payment first due);
Proposed:
f. All payments of whatsoever nature required to
be made by each owner and not paid within
thirty (30) days from the due date for payment,
shall bear interest at the Interest Rate from
the date when due, until paid (all payments on
account shall first be applied to interest and
then to the assessment payment first due);
Proposed Change # 16) Page 36, 8.01 Current: LEASING OF UNITS
8.01 In the event that any owner desires to lease or
rent his unit. he shall furnish to the Corporation
an undertaking, in form satisfactory to the
Corporation and signed by the proposed lessee or
occupant, that the proposed lessee or occupant of
the unit will comply with the provisions of the Act
and of the By-Laws of the Corporation. The owner
shall not be released from any of his obligations,
and shall be jointly and severally liable with the
proposed lessee or occupant with respect to such
obligations.
Proposed: LEASING OF UNITS
8.01 In the event that any owner desires to lease or
rent his unit, he shall furnish to the Corporation
an undertaking, in form satisfactory to the
Corporation and signed by the proposed lessee or
occupant, that the proposed lessee or occupant of
the unit will comply with the provisions of the Act
and of the By-Laws of the Corporation. The owner
shall not be released from any of his obligations,
and shall be jointly and severally liable with the
proposed lessee or occupant with respect to such
obligations.
Proposed Change # 17) Page 41, 9.01 a. xiii) PART IX -- OCCUPANCY RESTRICTIONS AND MAINTENANCE
USE AND OCCUPANCY RESTRICTIONS
9.01
a. An owner shall not:
Current: xiii) drive any motor vehicle on the
common property at a speed in excess
of 15 kilometres per hour;
Proposed: No clause, renumber clauses xiv) through xvi) appropriately. End of Proposed Changes.