Board calls an Owners Meeting
The board may call an owners' meeting (often called a Special General Meeting (SGM) or
an extraordinary meeting), for the following reasons:
The board could call a meeting of owners to discuss any issue relating
to the corporation they that they feel warrants a meeting.
Some condo boards hold an information meeting to explain the next
fiscal year's budget so the owners will know why their monthly
maintenance fees will be higher.
However, the board does not have to hold a vote on any issue that was
placed on the agenda, nor do they have to agree to any changes the
If the board decides to make alterations to the common elements and if
the estimated costs of the alterations exceeds the greater of $1,000
and 1% of the current annual common expense budget, the board must send
a notice of such a change to all the registered owners.
The notice must describe the alteration and must state its estimated
cost and the manner in which the board intends to pay. (The alterations
must be paid out of the operating funds.)
The notice must specify that, within 30 days of receiving the notice,
owners of 15% of the units are entitled to requisition an owners’
meeting to vote on the alteration.
or amended By-law(s)
When the board wants to add or amend a by-law, the addition or changes
must be brought forth at an owner's meeting and passed by the owners of
a majority of of the units.
of substantial changes
The board cannot make a substantial addition, alteration, improvement
to the common elements, a substantial change in the assets of the
corporation or a substantial change in a service that the corporation
provides to the owners unless the owners who own at least 66 2/3% of
the units vote in favour of approving it at an owners' meeting.
An addition, alteration, improvement or change is substantial if its
estimated cost, based on its total cost, regardless of whether part of
the cost is incurred before or after the current fiscal year, exceeds
10% of the annual budgeted common expenses for the current fiscal year.
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