MHHS · Condominium Property Act
39.1 Special levy
approve a special levy must set out the following:
(a) the purpose of the levy;
(b) the total amount to be levied;
(c) either
(i) the method of determining each unit's proportionate
share of the levy by unit factor, or
(ii) subject to the regulations, and if provided for in the
bylaws, the method for determining each unit's share of
the levy on a basis other than the unit factors of the
owners' respective units;
(d) the date by which the levy is to be paid or, if the levy is
payable in instalments, the dates by which the instalments
are to be paid.
(2) A special levy may be levied to raise money
(a) for the payment of unexpected and urgent maintenance,
repair or replacement of the real and personal property of
the corporation, common property or managed property,
(b) to cover unexpected shortfalls in the operating account,
(c) to increase the balance of the reserve fund to meet the
requirements in a reserve fund plan required under the
regulations,
(d) subject to subsection (3), for the payment of a capital
improvement,
(e) to satisfy a judgment against the corporation, or
(f) for any other purpose provided for in the regulations.
(3) If the purpose of the special levy is for the making of a capital
improvement, a special resolution is required before the board may
approve the special levy.
RSA 2000
(4) As soon as possible after the passing of a resolution referred to
in subsection (1), the board must inform each owner of the
following:
(a) the purpose of the levy;
(b) the total amount of the levy;
(c) the method used to determ ine each unit's share of the levy;
(d) the amount of the owner's unit's share of the levy;
(e) the date by which the levy is to be paid or, if the levy is
payable in instalments, the dates by which the instalments
are to be paid.
(5) If the amount collected exceeds the amount required or for any
other reason is not fully used for the purpose set out in the
resolution referred to in subsection (1), the corporation must pay
the money into the reserve fund.
2014 c10 s30;2024 c20 s1(21)