Category: Real Estate Blog
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Condominium Corporation’s Reserve Fund Study
A reserve fund is a separate account maintained by a condominium corporation specifically for major repairs and replacement of common elements and assets. A condominium corporation is statutorily required to periodically obtain a reserve fund study. Reserve Fund Study A reserve fund study is a routine assessment of a condominium corporation to make sure it…
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Business Corporation’s Borrowing Bylaw
This article briefly discusses what a corporation’s borrowing bylaw is, when it is required, its content and alternatives. What is a borrowing bylaw? It is an important document of a corporation, which outlines how the corporation borrows money. Power to Borrow Money A corporation has the capacity and powers of a natural person, including entering…