RTA · Condominium Property Regulation
Part 1 — Registration of Condominium Plans and Other Condominium Documents
6 Unit factors
of the unit factors for all the units in the parcel is equal to 10 000.
Section 7 AR 168/2000
Except in the case of a security that cannot be registered, a
corporation that invests in securities shall require the securities to
be registered in the corporation's name, and the securities may be
transferred only in the corporation's name.
(1) An individual does not need to be an owner in order to be
elected to the board.
(2) Notwithstanding subsection (1),
(a) if a unit has more than one owner, only one owner in
respect of that unit may sit on the board at one time, and
(b) an owner who has not paid to the corporation the
contributions or levies due and owing in respect of the
owner's unit is not eligible for election to the board.
(3) An individual is not eligible to be a member of the board if the
individual
(a) is under 18 years of age,
(b) is a represented a dult as defined in the Adult
Guardianship and Trusteeship Act,
(c) is the subject of a certifi cate of incapacity that is in effect
under the Public Trustee Act,
(d) is a formal patient as defined in the Mental Health Act,
(e) has been found, in Alberta or another province, to be of a
mental state that is the equivalent of a state described in
clauses (b) to (d) and that finding has not expired or been
overturned or vacated by a court in Canada,
(f) is an undischarged bankrupt, or
(g) is incarcerated.
(4) An individual is not eligible to be a member of the board if the
individual
(a) is on probation,
(b) has been convicted of an offence involving fraud, deceit
or breach of trust or an offence under the Act in the past
10 years,
Schedule 4 AR 168/2000
(c) has judgments against the individual under the Act, or
(d) has or potentially has a pri vate interest in an agreement,
arrangement or transaction involving the corporation that
could occur during the individual's term on the board,
and does not disclose that information at a general meeting before a
vote to elect members of the board is called where that individual is
standing for election to the board.