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Condo Meetings

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Homeowners will have the opportunity to join the Condominium Board of Directors for EVE Park.
 
The Condominium Act is clear that the board of directors shall manage the affairs of the corporation, however, they are permitted to assign those duties to the property manager of their choice. The Board of Directors are the ‘mind’ of the corporation; the property manager acts as a resource; authorized agent and administrative arm of the corporation, at the will of the Board.
 
The owners of the property are charged with familiarizing themselves with the governing documents of the corporation they bought into as well as the Condominium Act. The property manager, Trademark Property Management, will assist the board with helping the owners understand these important roles by using their expertise and experience to help support a well-informed, cohesive community.
 
The expectation of the board includes and is not limited to the following items:

  • Review quotations for maintenance

  • Review monthly management reports

  • Attend the Annual General Meeting

  • Review monthly financial statement

  • Review annual budget and approve

  • Review financial forecast to reduce unexpected expenses

  • Review and commission Reserve Fund Study

  • Communicate with Property Manager

  • Keep updated on changes to the Condominium Act

  • Keep updated on recent sales histories at the property

 
Below is a list of relevant rules and information about condo meetings.
 
Article IV Meeting of Members
Annual General Meetings: The annual general meeting of the owners shall be held at such place within the City of London and at such time and on such day in each year as the board of directors of the Corporation (hereinafter called the "board") may from time to time determine, for the purpose of hearing and receiving the reports and statements required by the Act and the by-laws of the Corporation to be laid before the owners at an annual general meeting, and for the purposes of electing directors, confirming by-laws passed by directors, appointing an auditor and fixing or authorizing the board to fix his remuneration, and for the transaction of such other business as may be properly brought before the meeting. The board shall lay before each annual general meeting of owners a financial statement made in accordance with generally accepted accounting principles, as well as the report of the auditor to the owners, and such further information respecting the financial position of the Corporation as the by-laws may require. The board shall hold an annual general meeting not more than three (3) months after the registration of the Declaration and description and subsequently within six (6) months of the end of each fiscal year of the Corporation
 
Directors’ Code of Ethics
(General)

  • All Directors of the Corporation shall comply with the Directors’ Code of Ethics, the current version of which is attached hereto as Schedule “C”.

  • To qualify to be a Director, an elected Director must sign and deliver the Directors’ Code of Ethics to the Corporation at the outset of his or her term of office as a Director.

  • The Board has the power to amend the Directors’ Code of Ethics, from time to time, by resolution of the Board and any such amended Directors’ Code of Ethics shall be then considered to be the Directors’ Code of Ethics.

  • If the Board amends the Directors’ Code of Ethics, then all Directors of the Board must sign and deliver the amended Directors’ Code of Ethics to the Corporation, within thirty (30) days of the same becoming effective. If any Director fails to sign and deliver the amended Director’s code of Ethics in the time allotted, then the Director will be deemed to have resigned from the Board effective as of the end of the thirty (30) day period set in this Section 4.

(Effect of Violation of Directors’ Code of Ethics)

  • A Director shall cease to be qualified to be a director of the Corporation and shall be deemed to have resigned from the Board if the Director:

    • fails to sign and deliver the Directors’ Code of Ethics to the Corporation at the outset of his or her term of office as a Director, or within thirty (30) days after the Board amends the Director’s Code of Ethics; or

    • violates the Directors’ Code of Ethics as determined by a vote of the Board as set out in this By-Law on at least three (3) occasions over the course of the Director’s term of office. The Director’s term commences at the time the Director is first elected to the Board, subject to the provisions below that apply following a hiatus from office by such Director. If a Director is re-elected, the term of office does not start from the date of re-election but from the date of first election, subject to the provisions below that apply following a hiatus from office by such Director. If a Director is re-elected to the Board after a hiatus of at least one (1) year from being a member of the said Board, the Director’s term of office shall be deemed to have commenced upon the date he or she was elected to the Board following such hiatus, unless determined otherwise by a court of competent jurisdiction.

  • A violation of the Directors’ Code of Ethics will be established if:

    • an owner of any Unit or a Director notifies the members of the Board, in writing, of an alleged violation of the Directors’ Code of Ethics by a Director (“the Alleged Violation”). Upon such notice being given, the matter shall be identified as an “Ethics Review” and added as the first agenda item to the next meeting of the Board for which proper notice can be given in compliance with the provisions of the Act and the by-law(s) of the Corporation. Notice of such meeting must be given to all Directors in compliance with the provisions of the Act and the by-law(s) of the Corporation. The procedure to be used for the Ethics Review shall be the same procedure used by the Board to decide all Corporation matters except, to ensure fairness, the Director named in the Code of Ethics Violation shall be allowed to address the said Board at the meeting, but shall not vote nor be present when the Board votes on the matter; and

    • the majority of the remaining Directors, present at the meeting during the Ethics Review, determine whether the Alleged Violation was a violation of the Directors’ Code of Ethics (a “Code of Ethics Violation”) by conducting a vote. The Ethics Review shall be duly minuted in the Corporation’s records and the subject Director named in the Alleged Violation will be permitted to return to the meeting if present. If it is determined, at the end of the Ethics Review, that a Code of Ethics Violation has occurred and constitutes the subject Director’s third (3rd) violation during his or her term of office, then prior to concluding the Ethics Review, the subject Director shall provide, in writing, his/her immediate resignation from the Board. Such written resignation may be in the form provided in Schedule “D” hereto. If the Director refuses, or fails to tender his or her resignation in the foregoing circumstances, the said Director’s resignation shall be deemed to have been provided at the meeting and duly noted within the minutes as such.

(Future Election)
  • If a Director ceases to be a Director of the Corporation following an Ethics Review he/she shall not be prohibited from being elected as a Director of the Corporation during any upcoming Director’s election.

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