The beginning
Assuming you are starting from absolute scratch the first thing you need is a board.
Depending on local rules the building (developer or investors) may appoint a board to start or an election is needed to create a board. This is election is typically called a General Meeting which is usually held once a year thus referred to as an Annual General Meeting (AGM). If you search for your local election standards (usually by State or Province) you can look up how much time is required to notify other owners of the election date, place and time.
A board usually requires at least 3 members (unless there are only 2 or fewer owners) and often is made of up of 5 to 7 people. There are various roles and responsibilities on a board but they are usually:
The developer, a lawyer or registries services should be able to direct you on where and how to register your board.
Sometimes the registries provides a Seal, other times you need to have it made. Some jurisdictions allow an ink stamp style seal and some require a compression style seal.
Depending on local rules the building (developer or investors) may appoint a board to start or an election is needed to create a board. This is election is typically called a General Meeting which is usually held once a year thus referred to as an Annual General Meeting (AGM). If you search for your local election standards (usually by State or Province) you can look up how much time is required to notify other owners of the election date, place and time.
A board usually requires at least 3 members (unless there are only 2 or fewer owners) and often is made of up of 5 to 7 people. There are various roles and responsibilities on a board but they are usually:
- President or Chair
- Treasurer
- Secretary
- Directors or Members at Large
The developer, a lawyer or registries services should be able to direct you on where and how to register your board.
Sometimes the registries provides a Seal, other times you need to have it made. Some jurisdictions allow an ink stamp style seal and some require a compression style seal.