RTA · Condominium Property Act
10.1 Duties of a Developer Appointment of interim board
of a condominium plan, appoint an interim board of directors and
file at the land titles office a notice in the prescribed form stating
the names and addresses of the members of the interim board.
(2) A developer shall, following a change in
(a) the membership of the interim board,
(b) the name of a member of the interim board, or
(c) the address of a memb er of the interim board,
promptly file at the land titles office a notice in the prescribed form
stating the change.
(3) The interim board holds office until a board is elected pursuant
to section 29.
RSA 2000
(4) Every member of the interim board, in exercising the powers
and performing the duties of the office of member of the interim
board, shall
(a) act honestly and in good faith with a view to the best
interests of the corporation, and
(b) exercise the care, diligen ce and skill that a reasonably
prudent person would exercise in comparable
circumstances.
(5) A resolution adopted by the interim board must be recorded
and is valid even if no meeting is held on the resolution.
(6) The interim board of directors shall make reasonable efforts to
pursue any remedies or claims under warranties or insurance
policies respecting the real and personal property of the
corporation, the common property and managed property.
(7) Where a member of the interim board has a material interest in
any agreement, arrangement or transaction to which the corporation
is or is to become a party, that person
(a) shall declare to the interim bo ard that person's interest in the
agreement, arrangement or transaction,
(b) shall not vote in respect of any matter respecting that
agreement, arrangement or transaction, and
(c) shall not be counted when determining whether a quorum
exists when a vote or other action is taken in respect of the
agreement, arrangement or transaction.
(8) Subsection (7) does not apply to an agreement, arrangement or
transaction in which the member of the interim board has a material
interest if that material interest exists only by virtue of that member
of the interim board owning a unit.
(9) All acts done in good faith by an interim board are,
notwithstanding that it is afterwards discovered that there was some
defect in the appointment, election or continuance in office of any
member of the interim board, as valid as if the member had been
properly appointed, properly elected or had properly continued in
office.
2014 c10 s5;2024 c20 s1(6)