(d) |
temporarily close common
element facilities for a duration of up to two (2) years. Two years is not temporary. |
(i) |
to borrow such amounts as in its
discretion are necessary or desirable
in order to fund expenditures that are not included in the
Corporation's budget for that fiscal year; I don't like "in its discretion". Also, what does the word "desirable" mean? This sounds like the board can blow the yearly budget at will as it can borrow its way out of a deficit without raising fees. (Note: there is no stipulation that the board has to ask for the owners' approval before taking out any loans under this provision.) |
(l) |
to sell, convey, exchange,
assign or otherwise deal with any real or
personal property at any time owned by the Corporation at such price,
on such terms, and in such manner as the Corporation in its sole
discretion deems advisable and to do all things and execute all
documents required to give effect to the foregoing. What the hell does the board want this for? This seems to be far too much power to give to the three volunteers that form the majority of the board. |
(e) | each director
shall execute the
“Directors’ Code of Ethics” form,
attached hereto as Schedule “A”, within ten (10) days of being elected
to the Board, failing which execution of same shall be deemed; So even if an elected director refuses to sign the form, it does not matter? |
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(h) | no person who is,
or whose
spouse, common-law partner, parent or child
is a party to litigation, mediation and/or arbitration with an interest
in opposition to that of the Corporation, shall be a director. A director has to give up some of his rights as an owner to serve on the board. A declaration of a conflict of interests should be sufficient and to abstain from voting on a conflict of interest would be sufficient. So if an owner is denied the right to inspect the corporation's records and therefore takes the board to small claims court to have her rights enforced, then as long as that claim is outstanding, the owner cannot run for the board. |
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(i) | the person
violates the
“Directors Code of Ethics” on three (3)
occasions over the course of the director’s term, unless determined
otherwise by a court. For the purposes of this section, a violation of
the Directors’ Code of Ethics will be established if: Determined by a court? So the board determines that only the courts and not a mediator, an arbitrator or a meeting of owners, can overturn their "judgment"? The costs to both parties could be enormous. |
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(a) another director notifies the Corporation, in writing, of the violation (the “Code of Ethics Violation”), upon which the matter shall be added as the first agenda item to the very next meeting of the Board and shall be identified in the agenda as the “Ethics Review”. | |||
To ensure fairness? Is the accused allowed to have legal representation at this kangaroo court? If it is determined at the end of the Ethics Review that the Code of Ethics Violation has occurred and constitutes the subject director’s third (3rd) violation, then prior to concluding the Ethics Review, the subject director shall provide, in writing, his/her immediate resignation from the Board, failing which shall be deemed to have been provided and duly noted within the minutes as such. |